Around 5,706 units that are part of the government’s social housing program have been reserved for rent to residents whose monthly income is less than EGP 1,500, Al Borsa reported.
The deadline for applications was on November 15 for social housing units located across a number of governorates including: 511 units in Ismailia; 24 in Suez; 472 in Qaliubiya; 31 units in Menoufiya; 180 in Damietta; 192 in Minya; 536 units in Suhag; 800 units in New Akhmem City; 1500 units in South Sinai, 1340 units in Qena, and 120 units in Beheira.
Applicants are obliged to pay an EGP 1,500 down-payment for three-bedroom units and EGP 1,000 for two-bedroom units. Residents will also pay electricity, water and gas bills as part of their monthly consumption and EGP 410 for maintenance of the three-bedroom units and EGP 300 for the two-bedroom units.
The rental value is expected to increase 7% annually and the contract period is no more than seven years, according to Shorouk News.
In case there is an increase in the number of applicants, applicants will be prioritized in the following order: residents of informal areas; single mothers; those with special needs; large families; average-sized families followed by single residents.