Deadline on Applications for Dar Misr Phase I and II Units Closes Today

Sunday, 30th October 2016

Today marks deadline set by the Ministry of Housing, Utilities, and Urban Communities’ for applicants seeking to reserve one of 10,616 remaining units that were previously offered in the first and second phase of the Dar Misr program, according to a statement from the ministry.

The units will be offered to those who were unable to secure units during the first two public lotteries held for the first two phases of the program, provided that the applicants did not withdraw the down-payment required to reserve the units.

The program targets middle-income homebuyers who may select units from a number of cities including 15th of May, New Cairo, Badr, Sadat City, 6th of October City, Borg El Arab and 10th of Ramadan City, according to Tarek El Sebaey, Supervisor of the Commercial and Real Estate Sectors at the New Urban Communities Authority.

The units range in size between 115 and 150 square meters and applicants may apply by paying a down-payment to the Housing & Development Bank, according to Mostafa Madbouly, the Minister of Housing, Utilities and Urban communities.

The Housing Ministry is currently executing an overall of  31,000 units in eight cities as part of the first phase of the project at a total cost of EGP 70 bn. The second phase includes 25,600 units, and the third expected to include 55,000 units.

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