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The New Urban Communities Authority and the Social Housing Fund in Egypt signed a package of partnership agreements with a group of real estate developers in the private sector, in the presence of Dr. Mustafa Madbouli, Prime Minister of Egypt, and Engineer Randa El-Menchawy, Minister of Housing, Utilities and Urban Communities, at the government headquarters in the New Administrative Capital, in implementation of the mandates of President Abdel Fattah El-Sisi during the "Egypt Forum 2026", with the aim of providing housing units for the low-income within the presidential initiative "Housing for All Egyptians".
On the sidelines of the signing ceremony, Eng. Randa El-Minshawy, Minister of Housing, Utilities and Urban Communities, said that the partnership initiative between the state, represented by the Social Housing Fund, real estate financing support, the New Urban Communities Authority, and private developers, was launched with the aim of providing housing units for low-income people, within the President’s initiative “All Egyptians’ Housing”.
Launching the partnership initiative between the state and private developers to provide housing units for low-income people
She explained that the agreements signed come within the framework of the state's orientation towards involving the private sector in various development fields, benefiting from various experiences, as well as enhancing the sustainability of providing adequate housing for citizens, and supporting and developing the mechanisms of the private sector to provide various types of housing in the real estate market.
May Abdel Hamid, CEO of the Social Housing and Real Estate Finance Support Fund, said that the partnership model is based on a mechanism that achieves a balance between the social dimension and the economic feasibility of developers, where 80% of the total project is allocated to affordable housing units offered to eligible citizens according to the prices and controls set by the Fund, in order to ensure the continued achievement of the basic objective of the program, which is to provide adequate housing at affordable prices.
In contrast, 20% of the project is allocated to the units or commercial activities that are developed and marketed according to market prices, providing the real estate developer with a source to achieve an appropriate investment return, enhance the economic feasibility of the project and stimulate it to expand participation. Land is also allocated to developers at preferential prices, which contributes to reducing the cost of development and achieving a balance between the social goals of the state, and ensuring the sustainability of the participation of the private sector in the implementation of affordable housing projects.
The CEO of the Social Housing Fund and Real Estate Finance Support confirmed that 104 real estate development companies submitted 137 applications to book 17 plots of land in the first phase of the program, targeting the implementation of about 20,000 housing units distributed over 8 new cities, and stressed that this reflects the confidence of the private sector in the new model, and confirms the readiness of the market to participate in the implementation of social housing projects in partnership with the state, while providing mortgage financing to beneficiaries at an interest rate of 8% decreasing, and a repayment period of up to 20 years.
104 real estate development companies submitted 137 applications to reserve 17 plots of land for the implementation of 20 thousand housing units distributed over 8 new cities
She pointed out that the model provides land in cooperation with the New Urban Communities Authority at preferential prices, with 80% of the units allocated to social housing and 20% for commercial units that are offered at market prices, which represents a source of profit for the real estate developer.
Waleed Al-Atbani, World Bank Regional Director, said: “This partnership is part of the efforts of the Social Housing Fund and support for mortgage financing to develop the housing finance system for low- and low-income people. The partnership with the private sector is one of the main pillars of the IFL program, which the Fund is working on in cooperation with the World Bank, through $1 billion financing since 2014.
The programme indicators have been achieved with the aim of enhancing the efficiency of financing mechanisms, expanding access to finance, supporting low- and low-income people, and attracting more investment to contribute to meeting the needs of target groups of adequate housing units.”
It is noteworthy that the agreements were signed by Dr. Ahmed Reza Amara, Supervisor of the Real Estate and Commercial Affairs Sector at the New Urban Communities Authority, and May Abdul Hamid, CEO of the Social Housing and Real Estate Finance Support Fund. The signing was attended by Dr. Walid Abbas, Deputy Minister of Housing, Utilities and Urban Communities, and a number of World Bank officials, as part of his full support for this project.
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