Egypt's Urban Development Fund books EGP 6bn in sales and targets 10,000 units in 2027
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Egypt's Urban Development Fund has recorded sales worth EGP 6bn since the start of 2026 and is targeting a further EGP 3bn by year-end and the delivery of about 10,000 housing units during 2027, its chairperson says.
The Urban Development Fund (UDF) has recorded sales worth EGP 6bn since the beginning of 2026 and is targeting an additional EGP 3bn in sales by the end of the year, UDF chairperson Khaled Seddik said.
Speaking to Daily News Egypt on the sidelines of a conference, Seddik said the fund is targeting the delivery of around 10,000 housing units during 2027 as part of its plan to accelerate construction and handover rates across its projects.
The fund is currently preparing the second phase of its land offering, with around 14 plots ranging in size from two to five feddans, in addition to other land parcels, including a 185-feddan plot in Kafr El-Sheikh and another plot in Mahalla, he added.
Seddik said the UDF currently has a portfolio of 24 projects across 13 governorates and is working to accelerate implementation and delivery, particularly after completing a significant portion of infrastructure and utility connections for its projects.
On the fund's projects in Downtown Cairo and Fustat, he said the El-Shorbagy Hotel, which comprises 36 units, has completed the process of assigning its management to a company. The Fustat project includes around 450 hotel units in addition to 158 serviced apartments, with first handovers at Fustat View targeted for early 2027, while the fund addresses challenges that affected parts of the project.
Seddik said the fund is offering alternatives to customers affected by delays in some buildings, including transferring them to other available units within the project or refunding the full value of their units without deducting any amounts.
He also said the UDF is seeking to increase sales of its projects to Egyptians living abroad. The fund has organised two overseas exhibitions recently as part of these efforts and is coordinating with the Ministry of Foreign Affairs to explore the possibility of using Egyptian embassies to promote its projects and available units.