EGP 85.052 bn cost of establishing 276,600 residential units in FY 2016/2017: CAPMAS

The fiscal year (FY) 2016/2017 witnesses the establishment of 276,600 residential units , implemented by the private and public sector at a cost exceeding EGP 85.052bn, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS).

In a recent report, the CAPMAS said that the government implemented 59,964 units with investments reaching EGP 34.206bn.

Meanwhile, the private sector established 216,636 units at a cost of EGP 50.846bn.

The housing units implemented during FY 2016/2017 include lowcost, middle, upper middle, and luxurious housing units. Morcover, the CAPMAS said that the total low-cost, housing units implemented by both sectors reached 145,588 units, including 88,086 by the private sector and 57,502 by the government. The total cost of these units

amounted to EGP 41.1bn, including EGP 17.6bn for the private sector and EGP 23.5bn for the government. The middle class housing units amounted to 59,900 units, including 93,800 by the private sector and 2,137 by the government. The cost of these units totalled EGP 31.8bn, of which EGP 21.3bn was from the private sector and EGP 19.5bn from the government. The CAPMAS also said that the upper middle class housing units reached 25,263, including 24,988 units by the private sector and 275 by the government. The total cost of these units exceeded EGP 6.7bn, including EGP 6.5bn by the private sector and EGP 179.3m by the government. As for luxury housing, the number of units in FY 2016/2017 reached 9,788 units at a cost of EGP 5.2bn This includes 50 units implemented by the government worth EGP 423,000 and 9,738 units by the private sector.