Minister Mostafa Madbouli:

Egypt ready to solve all investors' problems, disputes

GMT 02:53 2015 Sunday ,15 March

Arab Today, arab today Egypt ready to solve all investors' problems, disputes

Egypt's Housing Minister Mostafa Madbouli
Sharm el-Sheikh - Arab Today

Egypt's Housing Minister Mostafa Madbouli on Saturday said the government is determined to break into problems faced by investors and low-income people who do not have access to basic services.
During an EEDC's work shop on the housing sector, the minister said that potable water covers 97 percent of Egypt's population, while there are 50% of the Egyptian citizens have no access to sanitation services.
This is another challenge for the government. We are trying to solve the problem in collaboration with the World Bank, the minister said.
We have a larger project with the World Bank for sanitation services at a cost of up to $500 million, he added.
The minister revealed that the government also have several large-scale projects up to $3 billion for sanitation and water desalination.
On the middle-income housing projects, Madbouli said that the government signed an agreement to provide units with prices less than the market, and is ready to provide lands at a price of infrastructure costs.
There is also a project for low-income housing units that aims to provide one million residential units, the minister said.
As many as 250,000 units have been completed, he added.
We intend to complete this project within two years, the minister stressed.
We have the courage to confront problems faced by investors and and solve all disputes with them, he concluded.
Source: MENA


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