Alwaleed Philanthropies & Prince Alwaleed Grant EGP 1.5 Billion to Build 10,000 Housing Units & Contribute 10,000 Acres to Egyptian ns

20/12/2015 |

Alwaleed Philanthropies, chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, announced a groundbreaking project to grant 10,000 housing units to 10,000 families over 10 years. The combined cost for the housing project was EGP 2 billion, of which EGP 850,000,000 was contributed by Alwaleed Philanthropies.

 

In addition, Prince Alwaleed contributed 10,000 Acres of land in Toshka, a EGP 700,000,000 investment, as a gift to improve the living conditions of many Egyptian Citizens. The combined contribution of Alwaleed Philanthropies and Prince Alwaleed was EGP 1.5 billion.

 

Moreover, Prince Alwaleed met with the President of Egypt, His Excellency Abdel Fattah El-Sisi, on November 25th, 2015 to finalize all the arrangements related to the two projects. Accordingly, Ms. Abir Kaki Secretary General of Alwaleed Philanthropies met with Dr. Ali Jomaa, the Former Mufti of Egypt, on behalf of the Misr El Kheir Foundation on Thursday December 17th, 2015 to sign the partnership of granting 10,000 housing units to Egyptian Citizens.

 

Also attending the meeting was Ms. Nauf Al Rawaf, Community Development Projects Executive Manager and HRH Princess Lamia Bint Majed Alsaud, Executive Manager of Media and Communication of Alwaleed Philanthropies, along with Egypt’s Ministers of Housing, Utilities and Urban Communities, Local Development, and Social Welfare to initiate this historic project.

 

The endeavor consists of constructing 10,000 low-cost housing units. An estimated 1,000 units will be distributed each year to the areas with the highest need over the next 10 years within Egypt. These units will be granted by  the Alwaleed Philanthropies to families most in need based upon objective procedures, as well as 10,000 acres in Toshka, to be at the disposal of the Government of Egypt to benefit from them as it deems appropriate to the Egyptian society. The units will be allocated in all Egyptian governorates except Cairo, North Sena and South Sena. The Alwaleed Philanthropies and the Misr El Kheir Foundation will soon launch a media campaign that will cover all areas of Egypt to announce the start date and procedures for those who are eligible to apply for the housing units.

 

This is a unique partnership between leading national and charitable foundations in the Arab region and reflects the Alwaleed Philanthropies’ primary focus on community development, specifically to fund, implement, and manage philanthropic projects to develop Arab societies.

 

The Council of Ministers in Egypt will manage and coordinate the assigned work between individual ministries and related public entities, such as the General Commissions, which are involved in executing the project. Among their responsibilities will be the task of ensuring that appropriate legal and regulatory structures exist related to the administration of the project. A representative chosen by the Council shall be given the full capacity to execute the responsibilities mentioned in the protocol, according to the scheduled time-frame and detailed work plan.

 

The Misr El Kheir Foundation will handle the technical administration, community and finance management for the project. The first stage will consist of reviewing and adopting design, strategic, and technical specifications, along with quantitative standards for the project. Subsequently, the initiation of project bidding procedures by qualified contractors will begin, based on the Alwaleed Philanthropies’ specific policies. Another duty of the Misr El Kheir Foundation is to lead the project’s Executive Committee. A representative of the Misr El Kheir Foundation will be appointed President of the project’s Executive Committee with the responsibility of ensuring that protocols are met.

 

This is the second time that the Alwaleed Philanthropies has collaborated with the Misr El Kheir Foundation. The previous initiative, in 2014, consisted of paying the debts for 1,000 men and women in Egyptian prisons to enable their release during the holy month of Ramadan. This effort was consistent with an Alwaleed Philanthropies’ core objective of promoting community development by ensuring their safe return to society as productive citizens.

 

Alwaleed Philanthropies supports and initiates projects in 104 countries, regardless of the gender, race or religion. We collaborate with a range of philanthropic, government and educational organizations to combat poverty, empower women and youth, develop communities, provide disaster relief and create cultural understanding through education. Together, we can build bridges for a more compassionate, tolerant and accepting world.

 

 

 

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