Egypt’s Beit El Watan initiative generates US$10B in sales as tenth phase nears launch

EGYPT – The minister for housing, El-Sherbiny has reported to the Prime Minister that total sales from all phases of the initiative have reached approximately US$10 billion, reiterating the potential of the country’s hospitality andreal estate sectors.

Minister El-Sherbiny reviewed key milestones in Egypt’s ongoing housing and infrastructure initiatives, starting with the “Your Home in Egypt” programme.

This initiative offers residential units across multiple developments and has recorded high reservation rates and substantial revenues from sales, reflecting strong demand.

In support of the presidential “Decent Life” initiative aimed at rural development, the minister reported that 1,379 out of 1,811 planned water and wastewater projects in targeted villages have been completed, with the remaining works actively progressing.

He also addressed the strategic master plan for the Pyramids area (Sphinx–Dahshur), emphasizing that extensive consultations with planning and tourism experts are underway to review the proposals submitted by the appointed consultancy.

Reaffirming the government’s commitment to inclusive housing, El-Sherbiny announced the launch of 400,000 residential units as directed by President Abdel Fattah El-Sisi.

These units will cater to various income segments, from low-income to luxury-tier. The first phase involves 35,088 units designated for middle- and upper-middle-income groups, part of a broader allocation of over 261,000 units across five phases expected to extend through mid-2026.

An additional 115,000 units are scheduled to be launched under the Housing for All Egyptians programme, targeting low- and middle-income citizens in several new urban communities.

To strengthen outreach and efficiency, the ministry is also marketing housing units through private real estate firms.

Currently, 65 projects comprising approximately 75,500 units are being promoted under this strategy.

The meeting further covered the progress of the Al-Fustat Gardens project, a major urban development spanning multiple thematic zones.

The investment area alone spans 140,000 square meters and includes 12 restaurant buildings, four malls, five fountains, a theater, celebration square, extensive landscaping, and parking structures.

The adventure zone, covering 99,000 square meters, will feature a children’s play area, service buildings, restroom facilities, and greenery.

Meanwhile, the hills landscape zone encompasses 122,000 square meters with play spaces, viewing decks, terraced gardens, and lighting.

Lastly, the river zone, stretching over 131,000 square meters, will be developed in three phases, featuring riverbed leveling, insulation, utility installations, three restaurants, and landscape enhancements along the banks.

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