Egypt signs developer partnerships for 20,000 low-income homes across eight new cities
Written on
Egypt's government has signed agreements with private developers to deliver about 20,000 housing units for low-income families, with 80 per cent of each project reserved for subsidised buyers and the rest sold at market prices.
Prime Minister Mostafa Madbouly witnessed the signing of a series of agreements between the government and private property developers to build around 20,000 housing units for low-income people, at a ceremony at the government headquarters in the New Capital.
The agreements bring together the New Urban Communities Authority (NUCA), the Social Housing and Mortgage Finance Fund (SHMFF) and several private developers, and follow directives by President Abdel Fattah El-Sisi during Egypt Forum 2026 to expand private-sector participation in housing provision. Housing Minister Randa El-Menshawy and representatives of the World Bank attended the signing.
Under the partnership model, 80 per cent of each project will be allocated to affordable units offered to eligible citizens at prices and conditions set by the fund, while the remaining 20 per cent can be sold as residential or commercial units at prevailing market prices, allowing developers to generate returns and keep projects financially viable. Developers will also receive land at preferential prices to reduce construction costs.
SHMFF chief executive Mai Abdel Hamid said 104 property development companies submitted 137 applications for 17 land plots offered in the programme's first phase, and that the projects are expected to deliver about 20,000 units across eight new cities. Eligible buyers will have access to mortgage financing at a declining interest rate of 8 per cent, with repayment periods of up to 20 years.
Housing Minister El-Menshawy said the model clearly defines the responsibilities of government bodies and private developers, combining the programme's social objectives with private-sector expertise, while Abdel Hamid described the agreements as a step towards a sustainable supply of affordable homes.
World Bank Regional Director Walid El-Atabani said the initiative forms part of a broader effort to improve access to housing finance for low-income households, noting that private-sector partnerships are a key component of the inclusive housing finance programme the bank supports, which has provided $1 billion in financing since 2014.