The Urban Development Fund (UDF) has recorded sales worth EGP 6bn since the beginning of 2026 and is targeting an additional EGP 3bn in sales by the end of the year, UDF Chairperson Khaled Seddik said.
Speaking to Daily News Egypt on the sidelines of a conference, Seddik said the fund is targeting the delivery of around 10,000 housing units during 2027 as part of its plan to accelerate construction and handover rates across its projects.
The fund is currently preparing the second phase of its land offering, with around 14 plots ranging in size from two to five feddans, in addition to other land parcels, including a 185-feddan plot in Kafr El-Sheikh and another plot in Mahalla, he added.
Seddik said the UDF currently has a portfolio of 24 projects across 13 governorates and is working to accelerate implementation and delivery, particularly following the completion of a significant portion of infrastructure and utility connections for its projects.
Regarding the fund’s projects in Downtown Cairo and Fustat, Seddik noted that the El-Shorbagy Hotel, which comprises 36 units, has completed the process of assigning its management to a company.
The Fustat project includes around 450 hotel units in addition to 158 serviced apartments, he said. The first handovers at Fustat View are targeted for early 2027, Seddik said, adding that the fund is currently addressing challenges that affected parts of the project.
The fund is also offering alternatives to customers affected by delays in some buildings, including transferring them to other available units within the project or refunding the full value of their units without deducting any amounts, he added.
Seddik also revealed that the UDF is seeking to increase sales of its projects to Egyptians living abroad. The fund has organised two overseas exhibitions recently as part of these efforts and is coordinating with the Ministry of Foreign Affairs to explore the possibility of using Egyptian embassies to promote its projects and available units to Egyptians abroad.
The move comes as the fund seeks to expand its sales channels and reach potential buyers outside the domestic market, while continuing to accelerate construction and handovers across its project portfolio.
