750M EGP wired from Egyptians abroad in week to reserve lands in housing project
Egypt's Housing Minister Moustafa Madbouly - Photo courtesy of Partnership for Development” conference.

CAIRO: A total of 750 million EGP ($95.7 million) have been wired from Egyptians abroad to the government to reserve lands in the third phase of a project dedicated to them, Youm7 reported Friday.

The money reserves lands allotted for the third phase of the Beit el-Watan project (House of the Homeland,) informed sources at the ministry told Youm7.

Some 3,000 Egyptian expats have registered on the website of the ministry to reserve and pay deposits, Youm7 quoted Assistant to the Housing Minister Khaled Abbas.

Lands requested have mostly been in New Cairo and 6 October in the outskirts of the capital, as well as New Aswan, New Qena and New Asyut, which are all expansions around the Upper Egyptian cities.

The Beit el-Watan project was launched in 2012 to allocate pieces of lands to Egyptians abroad in new urban expansions, supplying the government with a large amount of hard currency.

The deadline to hand over the lands to their new owners was delayed several times as the government failed to supply the lands with infrastructure on time.

The lands in which the owners will be able to construct their homes should be delivered in January 2016, according to the latest announced timeframe.

The second phase of the project and reservations kicked off in January, while the third was launched Nov. 27.

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