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Tuesday, 14 November 2017

Housing Ministry considers fixed interest rates on PPP projects with developers

The Housing Ministry is considering holding interest rates on land purchases by developers steady for public-private partnership developments, Housing Minister Moustafa Madbouly said on Monday. The move would help reduce costs of land purchases by developers, who have been complaining that rising land prices have been a hindrance in expanding development, Madbouly said, according to Al Shorouk. Madbouly also responded to land price complaints by rebuking developers who only focus on projects in and around Cairo at the expense of cheap land in other governorates.

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