CAIRO: Minister of Housing and Urban Development Mostafa Madbouly met with his Equatorial Guinean counterpart Juan Nko Mbula at the Cairo Minister of Public works to discuss cooperation between both ministries, Youm7 reported Friday.
They both talked about benefiting from Egyptian experience in the fields of construction, especially in low budget housing.
Mbula called to transfer the low budget of constructing with “sacks of sand” to Equatorial Guinea to solve the issue of housing there.
Madbouly approved for a delegation from the centre of construction research that executed low cost projects to travel there.
Assistant of Minister of Housing Khaler Abbas said that Guinean Minister agreed for The Arab Contractors Company to execute the suggested model of low budget housing, according to Youm7.
Company Board Member Ashraf Thabet said that the Guinean side agreed to open a branch of Housing and Development Bank in its capitol Malabo.
Head of the Center Khaled Zahaby said the chosen model is considered as the fastest in construction and with lowest cost.
Madbouly said in a conference Monday the Ministry will announce the issue of housing next week to provide 50,000 housing units to people with limited income, according to several media reports.
The units are the first stage of a project aiming to build 200,000 units before June 2015 in the framework of the project of building a million units for low income families in five years.
Additionally reporting by Ahmed Hassan.