Following his meeting with the Chief Executive Officer of Arabtec Construction Company Hasan Abdullah Ismaik, Minister of Deference Field Marshal Abdel Fattah Al-Sisi announced the construction of one million residential units for Egyptian youth, the armed forced spokesman Colonel Ahmed Ali said on his official page.
The project will be cooperation between the Emirati construction company and the Egyptian armed forces. It is expected to be implemented over the next five years and aims to solve the housing problem for low income youth.
The cost of the project remains unknown as the Emirati representatives stated in a press conference that it is still “under study”.
The project will be under the umbrella of the “For Egyptian Youth” initiative, which was launched by Al-Sisi on Sunday.
Ismaik stated that this cooperation comes as part of the Abu Dhabi’s efforts to support the Egyptian leadership, adding that the company is honoured to be implementing the “largest housing project in the Arab World” with the armed forces.
Ismaik pointed out that the project will offer job opportunities to more than one million Egyptian citizens and will have a positive impact in developing economic and social conditions in Egypt.