Egypt’s Prime Minister Moustafa Madbouli held a meeting with cabinet ministers on Tuesday at the government headquarters in the New Capital to review the framework of the initiative to involve the private sector in the implementation of social housing units.
The prime minister reaffirmed the government’s strong commitment to empowering the private sector and engaging it in sustainable development efforts, leveraging its expertise in various sectors as a key driver of economic growth.
He noted that the government continues to improve the business climate, enhance investment opportunities, and strengthen investor confidence.
Minister of Housing, Utilities, and Urban Communities Sherif Sherbiny highlighted that over the past decade, the state has provided substantial social housing across existing and new cities, completing 784,100 units, with 245,800 units under construction, and a target of 38,000 additional units.
He explained that the new initiative aims to further involve the private sector in delivering social housing, supporting the sustainable provision of adequate housing, and strengthening private sector participation in diverse housing projects within the real estate market.
He referred to an agreement with the World Bank and the Social Housing Fund, under which the private sector is expected to deliver approximately 10,000 units.
Sherbiny outlined the ministry’s coordinated efforts with developers, the Social Housing Fund, and the New Urban Communities Authority, including meetings with experts and the World Bank to define the most effective mechanisms for the initiative.
The discussions also focused on addressing challenges and maintaining affordable unit prices.
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