Egypt is a populous nation, part of the Maghreb Region. Its capital, Cairo, is one of the continent’s megacities, with a current population of 91.14 million. Egypt’s housing crisis affects millions across the countryThe government of Egypt is strongly working towards achieving the desired economic development for Egypt through its economic reform plan, in which housing and urbanization are highlighted as central to their agenda.
The World Bank classifies Egypt as a low-middle income nation, with a per capita GDP of less than EGP 12 000 (US$ 1 600). In addition, according to the World Bank’s calculations, the gross national income per capita was EGP1 960 (US$108.9) per month in 2013. Housing affordability is limited despite government policy efforts. Just over one-fifth of Egyptians have incomes lower than US$2 per person per day; with northern Egypt being the most impoverished.
Egypt’s population has tripled in the last half century, and now has a population of to 91.14 million; and the vast majority of its citizens continue to live on just five percent of the country’s land in the Nile Valley. While the private sector has produced a lot of luxury apartments and upscale developments, there are only a few options for ordinary working people. Seeking to address Cairo’s chronic shortage of affordable housing, the government has recently announced several mega-developments like the new administrative capital which is supposed to include a huge number of units and projects. It is to be located 45 kilometres (28 miles) east of Cairo, between Cairo and the Suez Canal and just outside the second Greater Cairo Ring Road. It is planned to consist of residential districts, artificial lakes, educational institutions, hospitals and clinics, mosques, 40,000 hotel rooms, a major theme park, 91 square kilometres of solar energy farms, an electric railway link with Cairo, and a new international airport. Furthermore, a plan was set to establish 20,000 housing units for civil servants. It will be built as a smart city. It is planned also to transfer the parliament, presidential palaces, 18 ministries and foreign embassies to it. The first phase of the project will cost around US$45 billion and it is planned to be delivered by 2022.