Thursday 15 September 2022
Books – Mohamed Abdel Nasser:
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.
Mai Abdel Hamid, CEO of the Social Housing and Real Estate Finance Support Fund, said that the new offering includes units ready for immediate delivery in the following governorates (Luxor, Qalyubia, New Burj Al 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 delivered within 18 months in cities (New October “west of the airport”). “Jerza Al-Qatouri – Al-Ayat”, Damanhour.
She stressed that the selling prices of the units presented within the new advertisement range between 194 and 310 thousand pounds, while the value of the serious reservation provider ranges between 15 and 22 thousand pounds.
She indicated that citizens must pay a down payment starting from 10% for low-income units, and starting from 15% for middle-income units, for a period of up to 30 years, at a decreasing annual interest rate of 3%, according to the detailed terms of the initiative issued by the Central Bank of Egypt on July 13, 2021. ,
The CEO of the Social Housing and Real Estate Finance Support Fund added that citizens can purchase the terms of reference, pay the serious reservation advance, and administrative expenses, through automated post offices in the cities and governorates in which housing units are offered, as of Sunday, September 25, 2022, until Saturday, October 1. 2022 for citizens with special needs only, and from Sunday, October 2, 2022, until Thursday, October 27, 2022, for all citizens, including people with special needs.
The CEO of the Social Housing and Real Estate Finance Support Fund indicated that the maximum limit for the low-income category has become 6000 pounds per month for a single individual, and 8000 pounds per month for the family, while the maximum for the middle-income category has become 13,000 pounds per month for the single individual, and 18,000 pounds per month for the family, and the price has been raised. Selling the unit 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 category eligible for cash support from low-income, to range from 5,000 pounds as a minimum, This is for an income category of 4500 pounds net per month, and up to 60,000 pounds for income groups below 3000 net pounds per month, provided that it is sufficient to provide return price support and indirect support for those with a monthly income higher than 4500 pounds per month, to enable that target group to obtain subsidized housing units. For residential units whose selling prices exceed 340,000 pounds/unit, and with a maximum of 40,000 pounds, cash subsidy for housing units less than 340,000 pounds.