40
Egypt is planning to build 14 new cities to stop the ongoing housing supply shortage, the Egyptian Housing Minister Asim Al-Jazzar said on Sunday.
The country has constructed 24 cities to house around 32 million people over the past 35 years, the minister said.
Al-Jazzar added that Egypt has pumped around 1.3 trillion Egyptian pounds ($42 billion) into the aforementioned projects and an additional 700 billion pounds ($22.5 billion) for urban development projects.
The minister also said that the country is still suffering from a housing problem due to the rapid population growth.
“Those 24 cities are proportionately distributed in all areas…we are also planning to embark on new projects to construct 14 new cities,” he said.
