The Social Housing Fund has set the dates for the issuance of the terms of reference for reserving the largest offer of housing units for low- and middle-income people in 25 governorates, and more than 20 new cities.
Mai Abdel Hamid, CEO of the Social Housing and Real Estate Financing Support Fund, said that citizens can purchase the terms of reference, and pay the seriousness of the reservation and administrative expenses, through the automated post offices in the cities and governorates where the housing units are offered, as of Sunday, September 25, 2022. And 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.
Mai Abdel Hamid explained 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 an interest rate of 3% annually, decreasing, according to the detailed conditions of the initiative issued by the Central Bank of Egypt on July 13, 2021, adding that the selling prices of the units offered 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.
Assem El-Gazzar, Minister of Housing, 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 initiative of the Central Bank of Egypt to provide real estate financing at an interest rate of 3% for a period of 30 year, which 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. .