Egypt’s housing scarcity is predicted to be 3.5 million; however with a populace of eighty-five million and growing, around 175,000 to 200,000 extra housing gadgets are required every year. While there are about 5.6 million vacant gadgets nationwide, maximum of those are past the approach of the low and middle-earnings classes.
House expenses in Egypt relative to earnings are truly extra pricey than in Western Europe, double that of maximum Gulf Of path this changed into on the rate of the lower-earnings phase of the market. The charge of the most inexpensive social housing gadgets has risen by 14% in keeping with yr during the last 8 years, whilst common earning best multiplied by 1% in keeping with yr among 2008 and 2013.countries, and 4 instances extra pricey than the United States.
In reaction to this, President El-Sisi has introduced the development of a million housing gadgets for low-earnings youth. The USD forty billion task is in collaboration with Arabtec Holding, a UAE company, and is the most important creation agreement withinside the region. Called “For the Youth”, the task is predicted to be completed through 2022, housing low-earning human beings in thirteen towns throughout the country.