Egypt builds of 281,000 housing units in 2018/2019: CAPMAS

The latest divs reflect a 13.8% decline in terms of unit construction and 11.5% decline in investments on the previous year

  
A general view of the newest project for future homes "One Kattameya" by Egyptian real estate development Memaar Al Morshedy Group at a highway in Cairo, Egypt, September 23, 2018. Image used for illustrative puposes

A general view of the newest project for future homes "One Kattameya" by Egyptian real estate development Memaar Al Morshedy Group at a highway in Cairo, Egypt, September 23, 2018. Image used for illustrative puposes

REUTERS/Amr Abdallah Dalsh

The Central Agency for Public Mobilization and Statistics (CAPMAS) has announced that a total of 281,300 housing units were constructed in Egypt during 2018-2019, at an investment of EGP 94.6bn.

The latest divs reflect a 13.8% decline in terms of unit construction and 11.5% decline in investments on the previous year, with 326,300 units built in 2017/2018 at an investment of EGP 106.9bn.

In a statement on Thursday, the agency added that economic housing ranked first according to the type of construction during 2018/2019, with 151,700 units constructed, or 53.9% of the total. This was followed by medium-income housing with 87,900 units, or 31.3%, followed by above average-income housing at 33,000 units, or 11.7%. Luxury housing accounted for 8,700 of the units built, or 3.1%.

CAPMAS noted that 100,500 units were implemented by the government in 2018/2019, accounting for 35.7% of total buildings, against 105,100 units in the previous year, marking a decline of 4.3%. Of this amount, government-built economic housing accounted for  83,600 of the units, or 83.1%.

On the other hand, the private sector implemented 180,800 units in 2018/2019, at 64.3% of the general total, compared to 221,200 units in 2017/2018, a decrease of 18.3%. Of this, medium-income housing came first, according to the type of construction, with 71,000 units or a rate of 39.3%.

Meanwhile, the total number of housing units implemented in the social housing project reached 67,700 units in 2018/2019. The Dar Misr Middle Housing Project constructed 14,500 units in 2018/2019, and Sakan Misr housing projects saw the addition of 2,064 new units.

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