Egypt's Urban Development Fund (UDF) has launched nation-wide mega urban housing project at a total investment 600 billion Egyptian pounds, the Fund’s chairman said.

Khalid Sedeek said the project involves the development of 230 urban sites in the capitals of the governorates and major cities of the country with a combined area of more than 14,422 acres.

He said 35 sites representing a total area of 1,750 acres would be developed on urgent basis, 60 sites with a combined area of 2,600 acres on priority basis and the remaining 135 sites with a total area of 10,149 acres would be accorded second priority.

He added that the whole project would be completed in five years.

Sedeek said the Urgent Project comprises of 61,000 units housing units in 13 governorates (Cairo-Suez-Damietta- Kafr El Sheikh- Gharbia-Qalyubia-Fayoum-Sharqia-Menoufia-Qena-Minya-Sohag-Dakahlia) at a cost of 120 billion pounds ($4.9 billion).

  1. Cairo Governorate: 3,204 housing units over an area of 49.2 acres; Al-Omda site in Al-Maasara city: with 720 units over 10 acres; Automated foundry land in the east of Nasr City: 2484 units over 39.2 acres
  2. Suez Governorate: Site 1: 3,792 units over 53 acres; Site 2: 3,888 units over 60 acres; Land north of Al-Safa city: 5,832 units over 85 acres
  3. Damietta Governorate: Poultry farm site in Ras El-Bar - 2,860 units over 72 acres; Land south of Ras El-Bar, next to Damietta Club – 1,920 units over 60 acres.
  4. Qalyubia Governorate: Endowments land in Shubra – 2,200 units spread over 20 acres; ESCO plot in Shubra - 1,440 units over 22 acres
  5. Gharbiya governorate: Al-Ajizi site in Tanta - 480 units over 3.23 acres
  6. Dakahlia Governorate: Land in the Sharq neighborhood in Mansoura: 748 units over 6 acres; Galaa housing site spread over 4 acres includes 728 units.
  7. Sharqia Governorate: Agricultural reform land site in Zagazig – 6,000 units over 83 acres; Site of the Hariri area in Zagazig - 1440 units over 21 acres.
  8. Monufia Governorate: Land of Menoufia University in the village of Al-Rahab in Shebin El-Kom – 1672 units spread over 15 acres
  9. Qena Governorate: Taksim Al-Salam land - 7128 units over 17 acres
  10. Sohag Governorate: Al-Shouna land - 264 units over 3.7 acres
  11. Fayoum Governorate: Al-Shouna project in Fayoum– 304 units over 3 acres; Plot of 8.14 acres with 796 units.
  12. Minya Governorate: Site of the gin of Al-Wadi Cotton Ginning Company - 181 units spread over 40.6 acres
  13. Kafr Al Sheikh Governorate: 9,660 units over an area of 185.8 acres.

(1 US Dollar = 24.63 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)