President asks developer for 200,000 rental homes
President el-Sisi urged businessman Hisham Talaat Moustafa to provide rental apartments as part of a large investment deal.
President Abdel Fattah el-Sisi asked businessman Hisham Talaat Moustafa on Tuesday to help provide between 100,000 and 200,000 rental apartments. The request came during a session on urban development at the Egypt Forum 2026, following an agreement for Moustafa’s company, Talaat Moustafa Group, to develop four mixed-use projects with an investment of EGP 11 trillion. El-Sisi stated that developers undertaking projects of such scale should also contribute to society, questioning the social service aspect of major investments.
Moustafa responded affirmatively, citing the private sector’s contributions to social initiatives. However, el-Sisi clarified that this request was separate from existing programs like the Haya Karima initiative and the Long Live Egypt Fund. He emphasized the scale of his proposal by noting that 1 percent of the announced investment would equal EGP 100 billion.
Prime Minister Mostafa Madbouly also spoke at the forum, announcing a major housing program that will include rental apartments, social housing, and projects for middle-income households. This initiative, to be rolled out over four years, aims to expand access to affordable housing across different income groups and revive rental housing as a key option.
Why it mattersEgyptian citizens across different income groups will have more housing options, including rental units, as part of a new government initiative.