Beit El Watan initiative generates $10bn in sales: Egypt's minister
Egypt - Prime Minister Mostafa Madbouly met on Sunday with Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny to follow up on the progress of key projects and initiatives being implemented by the ministry across various sectors.
During the meeting, Minister El-Sherbiny provided an update on the Beit El Watan initiative for expatriate Egyptians. He announced that total sales from all phases of the initiative have reached approximately $10bn, as preparations are underway for the launch of the initiative's tenth phase. The minister also noted ongoing efforts to increase the number of available land plots to meet rising demand.
El-Sherbiny also reviewed the status of the Your Home in Egypt initiative, which offers residential units in multiple projects. He highlighted the high reservation rates and significant revenues collected from unit sales.
Addressing the ministry's contributions to the presidential Decent Life initiative aimed at rural development, the minister reported that 1,379 out of 1,811 water and wastewater projects have been completed in targeted villages, with work progressing on the remaining projects.
The meeting also covered progress on the master plan for the Pyramids area (Sphinx–Dahshur). El-Sherbiny emphasized the extensive consultations held with planning and tourism development experts to review proposals submitted by the consulting firm in charge of developing this strategic location.
The minister reaffirmed the state's commitment to providing adequate housing for all segments of society as part of its broader sustainable development goals. He confirmed that implementation has begun on President Abdel Fattah El-Sisi's directive to launch 400,000 housing units catering to a wide range of income brackets, including low-, middle-, upper-middle-, and luxury-tier segments.
The first phase of this rollout includes 35,088 units for middle- and upper-middle-income groups, as part of over 261,000 units planned for those segments. The five-phase rollout is expected to continue through mid-2026. Additionally, 115,000 units will soon be launched under the Housing for All Egyptians initiative, targeting low- and middle-income citizens in several new urban communities.
El-Sherbiny also discussed the ministry's strategy to market its housing units through private-sector real estate companies. Currently, 65 projects comprising around 75,500 units are being promoted.
Turning to the Al-Fustat Gardens project, the minister reviewed the status of its key components. The investment area within the garden spans approximately 140,000 square meters and includes 12 restaurant buildings, four commercial malls, five fountains, a theater, a celebration square, landscaping, and both underground and elevated parking garages.
The adventure zone covers around 99,000 square meters and features a playground, three service buildings, a children's play building, restroom facilities, and utility networks with surrounding greenery.
The minister also provided updates on the project's hills landscape, which covers about 122,000 square meters and includes play areas for children, viewing and seating areas, a celebration plaza, terraced planting, and pathway lighting.
He highlighted the river zone, which stretches across 131,000 square meters and will be developed in three phases. It includes riverbed leveling, insulation, utility installation, and landscape work along the riverbanks, alongside three restaurants.
Finally, El-Sherbiny reviewed the market and Kasbah areas of the project. The market area will span roughly 115,000 square meters and include 13 artisan market buildings for glassware, six hotel buildings, six fountains, and landscape features. The Kasbah area, covering about 206,000 square meters, will feature four restaurant buildings, ten mixed-use commercial-residential buildings, a cinema complex, an administrative building, a multi-purpose hall, and several parking facilities.
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