Financing for Egypt’s Housing Initiative Reaches USD 1.52 Billion

The Egyptian government has announced that USD 1.52 billion in mortgage financing has been allocated to support the ongoing ‘Housing for All Egyptians’ initiative. Since the initiative’s launch in June 2014, approximately 1.6 million applications have been received, with mortgage financing exceeding EGP 74 billion, facilitated by 22 banks and eight companies.

The initiative includes the construction of one million housing units for low-income families and 28,000 units for middle-income families. Key projects include 55,500 units in new cities as part of the Green Housing Program.