Urban Development Fund To Deliver First Phase Of“Darah” In Early 2025
Date
1/29/2025 2:05:22 PM
(MENAFN- Daily News Egypt) The Urban Development Fund (UDF) has announced that the first phase of its flagship“Darah” project will be delivered in the first half of 2025. This phase includes 5,000 housing units across multiple governorates, with infrastructure and utility installations already completed. The project, valued at over EGP 72 billion, aims to provide integrated communities with residential, educational, and healthcare facilities.
Spanning 1,400 acres across 13 governorates,“Darah” is part of UDF's broader efforts to advance urban development in line with Egypt's Vision 2030. The second phase of the project will expand into five additional governorates, offering competitively priced housing solutions.
Chairman Eng. Khaled Saddik highlighted UDF's success in real estate, with sales reaching EGP 20 billion in 2024, doubling expectations. He noted strong demand for gated communities in governorates like Sohag, Mansoura, and Kafr El-Sheikh.
Beyond“Darah,” UDF is advancing key projects, including Fustat Gardens, a 500-acre park in Cairo, and the regeneration of Historic Cairo, a UNESCO-listed site. The fund is also evaluating investment opportunities worth EGP 29 billion, including mixed-use developments in Kafr El-Sheikh and El Mahalla El Kubra.
UDF's expertise has gained international recognition, with Saudi Arabia seeking its support in regenerating urban areas. The fund's expansion into global markets, including Italy, positions Egypt as a competitive real estate investment destination.
As Egypt's largest real estate developer, UDF remains committed to sustainable urban development and improving citizens' quality of life.
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