Mai Abdel Hamid: Egypt expands state support, financing mechanisms for affordable housing

Egypt is expanding state support and financial mechanisms to provide affordable housing.

Report informs that Mai Abdel Hamid, CEO of Egypt's Social Housing and Mortgage Finance Fund, said this during the 13th session of WUF13 in Baku.

According to her, with a population of 100 million, the country initially faced an acute housing shortage, especially for low-income groups.

"To address the problem, we needed to establish broad coordination with all stakeholders in order to build this integrated ecosystem. The state had to offer sufficiently good land plots with infrastructure, and we received this land free of charge," Hamid said.