After the launch of the housing initiative for all Egyptians, which will provide an apartment for all those looking for adequate housing at reasonable prices, where the Council of Ministers agreed to increase the maximum monthly income categories allowed to apply for housing units in the “Housing for All Egyptians” program; Which came to keep pace with the increase in the current rate of wages and prices, and with the aim of enabling them to obtain subsidized housing units, as the maximum limit for the low-income category became 6000 pounds per month for a single individual, and 8000 pounds per month for the family, while the maximum for the middle-income category became 13,000 pounds per month for a single individual, And 18,000 pounds per month for the family, according to the Social Housing Fund
Increase the maximum eligible category
The Social Housing Fund confirmed today, that the unit selling price has been raised to 1.7 million pounds instead of 1.4 million pounds for fully finished units with an area of up to 150 square meters, for the middle-income category, and it also comes after the council’s approval to increase the maximum limit for the category entitled to cash support from the low Income, ranging from a minimum of 5,000 pounds for an income category of 4,500 pounds net per month, and up to 60,000 pounds for income categories below 3,000 net pounds per month, provided that it is sufficient to provide return rate support and indirect support for those with a monthly income higher than 4,500 pounds per month. To enable this target group to obtain subsidized housing units, for housing units whose selling prices exceed 340,000 pounds / unit, and a maximum of 40 thousand pounds, cash support for housing units less than 340,000 pounds.
Housing for all Egyptians 3
The Social Housing and Real Estate Finance Support Fund announced the opening of reservations for fully-finished housing units, as part of President Abdel Fattah El-Sisi’s initiative “Housing for All Egyptians 3” for low- and middle-income citizens, in light of the Central Bank of Egypt’s initiative to provide real estate financing at an interest rate of 3% for a period of 30 years. It has been in effect since July 13, 2021.
The Minister of Housing explained that the new proposal comes in light of very difficult global economic conditions, but the state continues its obligations to provide adequate housing for citizens through fully finished housing units in the various governorates of the Republic, which is clearly evident in the new proposal, which includes many governorates..
The offering includes units ready for immediate delivery in the following governorates and cities (Luxor, Qalyubia, New Borg El Arab, Fayoum, New Fayoum, Beheira, Kafr El-Sheikh, Marsa Matrouh, Assiut, Menoufia, Ismailia, Sohag, New Akhmim, Sharkia, Suez, Beni Suef, Gharbia, Damietta, Aswan, Dakahlia, North Sinai, Qena, Minya, New Minya), in addition to housing units to be delivered within 18 months in cities (New October “West of the Airport”, “Jerza Al-Qatouri – Al-Ayat”, Damanhour”.