• 18:46
  • Friday ,05 February 2016
العربية

Sisi allocates EGP 1 billion from Long Live Egypt Fund to build cheap housing

By-Ahram

Top Stories

18:02

Saturday ,06 February 2016

Sisi allocates EGP 1 billion from Long Live Egypt Fund to build cheap housing

Egypt’s President Abdel-Fattah El-Sisi ordered on Saturday that EGP 1 billion from the Long Live Egypt Fund be assigned to build 100,000 affordable housing units.Egypt’s President Abdel-Fattah El-Sisi ordered on Saturday that EGP 1 billion from the Long Live Egypt Fund be assigned to build 100,000 affordable housing units.

The president’s announcement came while inaugurating a number of housing and services projects in the satellite city of 6 October on the outskirts of Cairo.
 
El-Sisi said that the current rate of building new housing projects is not enough to combat the phenomenon of informal and unregulated housing, adding that “we can't allow informal housing ever again.”
 
El-Sisi also said that over the past 20 years, sewage systems were only built in 15 percent of Egyptian villages.
 
He added that in the next two and a half years, 2,300 villages will be provided with sewage systems.
 
Ministers have also presented a number of projects to the president, including a youth village in Sharm El-Sheikh, to increase tourism by young people to the Red Sea resort.
 
The Long Live Egypt Fund was created by President El-Sisi in 2014 to solicit donations in support of Egypt's development.