President Abdel Fattah El-Sisi announced the effort to give people with low and intermediate incomes the chance to buy appropriate housing at discounted rates and for extended periods of time.
As part of President Abdel Fattah Al-initiative Sisi’s “Housing for all Egyptians for Low and Middle Incomes, in light of the proposal of the Central Bank of Egypt, for its new initiative by providing financing,” the Ministry of Housing, Utilities, and Urban Communities highlighted the opening of the Social Housing Fund and Real Estate Finance Support, the door to reservations for fully finished housing units, last year. Since July 13, 2021, the real estate has been offered at a return rate of 3% over a 30-year term.
The governorates of the new offering were determined by the Social Housing Fund, and they are split into governorates with apartments that are ready to be delivered and other governorates with flats that will be supplied in the following 18 months.
Last year, two announcements were made offering housing units ready for immediate delivery and another under construction (to be delivered in 36 months) in all of the republic’s governorates, subject to reservations being made beginning on August 8 and continuing through Saturday, August 14, 2021 (for residents with special needs only), and beginning on August 15, 2021 and continuing through Thursday, September 9, 2021. (for all citizens, including people with special needs)
The second announcement, which is solely available to middle-class residents, also contains fully finished units that will be delivered within 36 months and has three rooms and a hallway.
Al-Fajr keeps an eye on the conditions brochure for the All Egyptians Housing 3 project, which is being launched in roughly 25 new governorates and cities, for reservations of social and medium housing units.
Selling the “Housing for All Egyptians 3” brochure of terms: From Sunday, September 25, 2022, through Saturday, October 1, 2022, only Egyptians with special needs may reserve apartments; from Sunday, October 2, 2022, through Thursday, October 26, 2022, all Egyptians, including those with disabilities, may do so.
Reservations for the social housing ceiling are subject to the following conditions:
You have to be Egyptian.
2. You need to be older than 21 but not older than 50. Submit an application for a dwelling unit in the governorate where you now reside. 3. If you are low-income, your maximum monthly income, if you are single, shall not exceed 6000 EGP. – A married person is only allowed to earn up to 8000 pounds each month. 4- If you are middle-class and unmarried, your monthly income cannot exceed 13,000 pounds. – Maximum monthly income for the married person is 18,000 pounds.
documents needed by 2022 for units in social housing:
1. Presenting a legitimate national ID card 2- The children’s birth certificates and marriage licence. 3. Income documentation that demonstrates net monthly income. 4. Providing proof of any additional income, such as ownership of real estate, agricultural land, or any other type of property. submitting written work financing for any new revenue. Obtain a generous pension or something similar. Own deposits or any savings containers. own stocks or bonds.
4- Extra effort.
The apartment rooms include: The apartment sizes for social housing are 90 and 75 metres, respectively. For middle-class residents, there are additional, more expensive apartment sizes of 100 to 120 metres.
Social housing units are available for delivery; the booking provider will want 15,000 pounds to be sent in the mail during the application period, while the flats that will be delivered after 18 months will require 22,000 pounds in advance.
Apartment costs in social housing: All Egyptians’ housing costs 3 vary depending on the type and number of spaces provided; Regarding the typical prices:
The cost per unit varies between 194,000 and 3104,000 pounds.
The cost of using the reservation service is between 15,000 and 22,000 pounds.
Payment methods and systems 3 Housing proposals for all Egyptians are subject to the real estate financing system, which offers the following payment options for both low- and middle-income individuals:
10% as a booking advance for those with limited resources 15% booking advance fee for middle-class customers The apartments that are offered are completely finished, and the remaining amount can be paid over the course of 20 or 30 years in instalments.
locations in the governorates where social housing units are offered: (Luxor, Qalyubia, New Borg El Arab, Fayoum, New Fayoum, Beheira, Kafr El Sheikh, Marsa Matrouh, Assiut, Menoufia, Ismailia, Sohag, Akhmim New, Sharkia, Suez, Beni Suef, Gharbia, Damietta, Aswan, Dakahlia, North Sinai Qena, Minya, New Minya).
By including the delivery of housing units in the aforementioned governorates—New October, “West of the Airport,” “Jerza Al-Qouturi – Al-Ayat,” and Damanhour—after 18 months. A.
Reservation requirements for units in a housing development for all Egyptians 3
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