\The number of housing units implemented during FY 2013/2014 increased by 7.5% compared to the previous year, said the Central Agency for Public Mobilisation and Statistics (CAPMAS) on Monday.
In FY 2013/2014, the constructed housing units totalled 145,800 with investments of EGP 20.6bn compared to 135,600 units in 2012/2013 with investments of EGP 8.1bn.
On the occasion of World Habitat Day, CAPMAS added that 55.2% of total constructed units were economic housing units, 32.8% for middle-income units and 7.9% for upper-middle class housing, while low-cost units recorded 3.2% and luxurious housing recorded 0.9%.
World Habitat Day was designated by the United Nations to be the first Monday of October every year.
“The purpose of World Habitat Day is to reflect on the state of our towns and cities, and on the basic right of all to adequate shelter. It is also intended to remind the world that we all have the power and the responsibility to shape the future of our cities and towns,” according to the World Habitat Day website.
World Habitat Day has a number of objectives such as raising awareness about the need for well designed and managed public spaces and streets, as well as developed processes and tools to promote and ensure public spaces. It also aims to contribute to the implementation of proposed Sustainable Development Goals.
Moreover, CAPMAS noted that the housing units constructed through the public sector during 2013/2014 have reached 42,500 units, recording 29.2% of total implemented units.
The public sector’s investments reached EGP 5.1bn, where 11% was allocated for low-cost constructions, 84.6% for economic units, 3.5% for middle-income buildings, and 0.7% for luxurious housing.
As for the units implemented through the private sector, they have reached 103,300 units recording 70.8% of the total constructed units.
Private sector investments reached EGP 15.5bn, where 43.1% were allocated for economic units, 44.8% for middle-income units, 11.2% for upper medium class housing, and 9% for luxurious units.
In mid-September, Jones Lang LaSalle (JLL) published a report stating that the supply of housing is mainly focused on high-end housing or affordable housing, leaving a notable market gap in middle-income housing.
Similar points of argument were raised by the Colliers International report. The real estate company highlighted that 77% of the housing demand in Greater Cairo is generated by middle-income Egyptians.