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Wednesday, 16 October 2019

El Gazzar talks PPP housing projects with Egyptian real estate developers

Housing Minister Assem El Gazzar discussed setting up social housing projects under a public-private partnership (PPP) framework with representatives from several private real estate developers, according to a cabinet statement. The government is set to sell several land plots spanning a minimum of 75 feddans apiece, and the developers want to use 70% of each piece of land to develop independent housing and the remaining 30% for social housing. The Social Housing Fund would receive the social housing portion of the land without charge, and would have three years to complete their work. Private developers would be required to pay regular rates and complete their work within five years.

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