Ministry of Housing and New Urban Communities plans to announce within days the results of a competition over implementation of the family housing scheme.
Ministry Advisor Sahar Tohamy said Sunday that 26 private sector investors have joined in competition to implement the scheme in several new areas. Winners in the bid will be identified by the Ministry of Housing early next year, she said.
The Ministry of Housing plans to build nearly one million housing units of the family housing scheme over the next six years as part of the President s election promises.
Tohamy said the Ministry of Housing is cooperating with several international consultancy firms to re-evaluate lands in the new urban communities in order to offer projects for tourism and real estate operations.
She added that the government would launch an international bid on nine areas of construction land in January for local and foreign construction companies.
