CAPMAS: 1.2 million residential units completed in 5 years

As many as 1.2 million residential Units have been completed in total in five years in both public and private housing projects, said the Central Agency for Public Mobilization and Statistics on Tuesday. 

The total investments for the 1.2 million units recorded approximately EGP 109.6 billion, according to a report issued by CAPMAS to mark the World Housing Day, which annually falls on the first Monday of October, as stipulated by the UN.

The report further highlighted that public expenditure in the housing sector constituted 41.7% of all expenditure, while the private sector made up the remaining 58.3%.

CAPMAS also reported that FY 2014/2015 recorded the highest number of completed units at 352,000, while the lowest output was recorded in 2012/2013, with 135,600 units .

Public expenditure focused mainly on affordable housing, according to the report, whereas a great number of units were built in Giza, followed by Sharqia and Cairo and finally Damietta.

The private sector focused on building middle-income households primarily in Ismailia, followed by Giza and Sohag governorates and finally Alexandria, added the report.