Residential units will be offered for low income citizens starting October 9 in several governorates and cities, in addition to new units in the Dar Misr housing project, according to Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly, reported Invest-Gate.
Citizens will be able to rent the units within 10 governorates if their income is below EGP 1,500. Unit contain either two or three bedrooms, and a living room.
In the governorate of Ismailia, 511 two-bedroom units are available, while 24 units are available in Suez, 472 units Quliubya, 31 units in Menoufiya, 180 units in Damietta, 192 units in Minya, 536 in Sohag, 800 units in New Akhmeem City, 1,500 units in North Sinai, 1,340 units in Qena, and 120 units in Beheira.
Interested applicants should pay EGP 1,000 to reserve the two-bedroom units and EGP 1,500 for the three-bedroom units through the Housing and Development Bank.
Residents will pay a monthly rent of EGP 300 for two-bedroom units and EGP 410 for three-bedroom units, including maintenance and excluding the electricity and gas bills, said Salah Hassan, Deputy Executive Director of the Social Housing Fund.
The rent is expected to increase 7% annually, Salah said, adding that the maximum rental period for the units is seven years, renewal upon agreement from both parties.
In case of a large demand among applicants, priorities are given to those who live in informal settlements, citizens with special needs, large families, followed by average-sized family, while single citizens come at the end of the list.
Furthermore, the minister noted that 10,616 additional units will be offered within the Dar Misr middle-income housing project for applicants who were unable to obtain units in the previous phases through the lottery.
Applicants can begin booking these units starting October 9 in New Cairo, Badr City, Sadat City, 15th of May City, 6th of October City, New Borg El Arab City, 10th of Ramadan City, Sheikh Zayed City, Shorouk City, Obour City, New Damietta, and New Minya.
All units range in size from115 square meters to 150 square meters, stated Tarek El Sebaey, Supervisor of the Commercial and Real Estate Sector at the New Urban Communities Authority (NUCA), who also added that applicants can reapply or adjust their desires at the bank until October 30.