CEO of the Social Housing and Mortgage Finance Fund (SHMFF), Mai Abdel Hamid, participated on Tuesday in a panel discussion organised by UN-Habitat themed “Integrated Urban Communities for Better Quality of Life”, as part of the “Innovation for Impact” conference held in Cairo.
During the session, Abdel Hamid presented Egypt’s flagship initiative, “Housing for All Egyptians,” designed to provide affordable housing for low- and middle-income citizens. She emphasised the initiative’s transformative role in improving living conditions and promoting social protection across the country.
Initially launched with modest interest, garnering only 10,000 applicants, the initiative has since witnessed a dramatic surge in demand, with the latest call for applications receiving over 500,000 responses. Abdel Hamid attributed this growth to robust government support, which covers 50% to 60% of unit costs, and the inclusion of both interest rate subsidies and direct financial assistance, positioning the programme as a cornerstone of Egypt’s broader social safety net.
She noted that 85% of housing units under the programme are being developed in new urban communities, with the remaining 15% located within existing governorates.
The Fund closely monitors unit occupancy, service delivery, and maintains active communication with residents to ensure sustainability and responsiveness to community needs.
To date, the programme has successfully delivered 730,000 completed units, with an additional 300,000 currently under construction.
Abdel Hamid also underscored the Fund’s growing focus on green and sustainable architecture, noting efforts to develop not just eco-friendly buildings but entire environmentally sustainable communities. A recent design competition, organised in collaboration with national and international partners, sought innovative designs for 30,000 green housing units.
Looking ahead, Abdel Hamid revealed that the Fund is exploring the issuance of green bonds in co-operation with international financial institutions and local banks. It is also actively working to engage private sector developers in the low-income housing market, while supporting small enterprises to manage the long-term operation and maintenance of housing projects.
