Dar Misr Homes Allocates 6,520 units Through Lottery

Tuesday, 20th December 2016

A public lottery was held  to allocate 6,520 houses in Dar Misr project , a social housing project for middle income citizens implemented in several cities, on December 18, reported Al Borsa.

The offered units are in six new cities with around 2174 applicants are competing. The number of applicants exceeded the number of units in the cities of Sheikh Zayed and New Minya, 6th of October City, 10th of Ramadan City, Badr City, and 15th of May City.

Attending the lottery was only allowed to those with a proof of down payment made at the Housing & Development Bank. Refunds for unsuccessful applicants will be refunded on 8th of January, added El Sebaey. The results for the lottery are expected to be announced on the official website of the New Urban Communities Authority (NUCA).

Dar Misr project is spread among 12 cities, 10 of which  have available 10,600 units. Around 530 applicants applied for units in Borg El Arab and 541 applicants in Sadat City.

Approximately 1003 units located in Shorouk City and Obour CIty were also offered through another lottery earlier with 1675 applicants competing over the offered units, stated Al Borsa earlier. Sales in Dar Misr project in the proceeding phase has reached EGP 1.9 bn.

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