Over 21,300 plots of land to be opened for reservation

Daily News Egypt
2 Min Read
The commission will implement a mechanism for the allocation of land and operation licences for those chains (DNE Photo)

The Housing and Development Bank (HDB) will allow Egyptian nationals and investors to reserve 21,398 plots of land offered by the ministry, the Minister of Housing, Utilities and Urban Communities Mostafa Madbouly announced on Monday.

These offerings mark the first phase of 60,000 plots of land provided by the Housing Ministry, the minister added. According to Madbouly, the areas of the offered lands range between 209sqm and 1,500sqm.

The government will receive applications to reserve a plot of land and submit a deposit between 3 May and 2 June. Reservation is allowed between 3pm and 5pm.

The minister warned potential customers to not deal with “any entities or individuals outside the [HDB] banks’ premises”.

“We [the ministry] are combating land trading [at inflated prices] in land offerings,” Madbouly said. “The plan to offer land to the maximum number of people adheres to the requests of Egyptians, from different classes, to own land.”

The plots of land offered are located in 21 different cities, including New Cairo,  6th of October City, Al-Shorouk, 15th of May, New Minya, New Damietta, New Sohag, and New Aswan.

In an interview with Daily News Egypt conducted last month, Madbouly said that the government plans to offer land to investors and individuals. He added that the government is also targeting a number of new projects in partnership with the private sector.

On the projects the ministry has planned with foreign investors, Madbouly said that the ministry “has agreed with Emirates Capital Group to develop an urban project with integrated services and facilities on an area of 1,212 acres.”

“The project includes 30,000 residential units with investments worth EGP 40bn,” he added.

In the same interview, Madbouly also said that the ministry plans to finish the implementation of 700,000 units within the framework of a social housing project by the end of FY 2017/2018.


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