Egypt’s PM directs providing necessary funding for projects implemented by Urban Development Fund

Daily News Egypt
3 Min Read

In a meeting held with Minister of Finance Mohamed Maait and Chairperson of the Board of Directors of the Urban Development Fund Khaled Seddik, Prime Minister Mostafa Madbouly followed up on the executive position of a number of the fund’s projects.

The PM stressed the state’s keenness to follow up on the implementation of urban development projects, foremost of which are projects to develop governorate capitals and revitalise historic Cairo, given its importance in achieving civilized projects that show the true face of Egyptian cities in all their splendour and distinction.

It was also emphasised to provide the necessary funding for the fund’s projects that are implemented in various governorates, which contribute to enhancing the quality of life for the population and the development of existing urbanisation, as well as providing thousands of job opportunities for the people of the areas in which the projects are implemented.

For his part, Seddik reviewed the steps for implementing a number of ongoing projects in unsafe areas, on top of which is the Khayala Land Project, which is being implemented on an area of ​​40 feddans and consists of 2,268 housing units and 28 shops, explaining that a public auction has been scheduled for Friday to offer fully finished shops with various areas suitable for various activities.

Furthermore, he reviewed the executive procedures for the project to develop the capitals of governorates and major cities, which is being implemented in cooperation with the Engineering Authority of the Armed Forces, noting that the workflow of the project is taking place in 36 sites in 13 governorates to establish about 114,000 housing units on a total area of ​​about 1,478 feddans, stressing that the implementation of the units is carried out at advanced rates of completion, in addition to the implementation of a number of shops, administrative units, services, and public utilities, which contribute to providing an integrated residential community that meets the various needs of its beneficiaries.

Moreover, he touched on the executive status of the project to revitalise historic Cairo, including the development of the area surrounding Al-Hakim Mosque, Bab Zuweila, and Haret Al-Roum, as well as the development of the Darb Al-Labbana area and Al-Rumaila Square Park, where he proposed the establishment of a temporary unit to manage projects that have been completed and preserve them from encroachments within the Historic Cairo Revitalisation Project, which undertakes the tasks of attracting investors, promoting new units and activities, communicating with target groups, and developing traditional crafts.

Seddik also explained that with regard to the Rumaila Park Project in the Darb Al-Labbana area, the development work of the park has been completed, and a number of building facades have been developed within the scope of the project.

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