Saudi Arabian Prince Alwaleed’s Alwaleed Philanthropies has pledged to donate 10,000 housing units for 10,000 Egyptian families within 10 years. In line with “its strong belief in everyone’s right to better living,” Alwaleed Philanthropies said their contribution is aimed at improving the living conditions of many Egyptian citizens. The housing project will cost EGP 2 billion, of which EGP 850 million will be contributed by Alwaleed Philanthropies. According to their website, Prince Alwaleed has also contributed 10,000 acres of land, an EGP 700 million investment, to the project. The partnership between Egypt and Alwaleed Philanthropies was signed on 17 December 2015. Ms Abir Kaki, the Secretary General of Alwaleed Philanthropies, met with Dr Ali Gomaa, the former Mufti of Egypt who was acting on behalf of the Misr El Kheir Foundation, to sign the agreement. According to Alwaleed Philanthropies, “an estimated 1,000 housing 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…
Saudi Billionaire Prince Alwaleed Pledges 10,000 Housing Units for Egyptians
December 22, 2015
