Ministry of Housing officials have discussed on Wednesday the terms and conditions of the ‘million housing units’ project for low-income households with the Emirati based holding company, Arabtec.
The first phase of the project includes 120,000 units to be completed by 2017 in the new cities of Al-Obour, Badr and Minya.
Minister of Housing assistant for technical affairs, Khaled Abbas, attended a meeting between the ministry and company’s officials, in which he called for facilitating the procedures of the project in accordance with the laws and regulations of the New Urban Communities Authority, to overcome any obstacles that may be encountered during the project implementation.
The residential communities will be developed in 13 locations in a number of Egyptian governorates covering 160 million square metres, of which 149 million square metres will be in Cairo while the rest will be divided between Alexandria, Fayoum, Beni Sweif, Menoufiya, Minya, Assiut, Souhag, Qena and Luxor.
Last May, Egypt contracted Arabtec, Dubai’s largest listed construction firm, to build the housing units across Egypt.
The project’s infrastructure will include a transportation network and public services including security zones, schools and mosques in addition to public parks, commercial malls, pedestrian zones and children parks.
The project, developed by the UAE’s Arabtec Holding, is the biggest of its kind in the region, with an overall development value of LE280 billion ($40.23 billion).