The Ministry of Housing, Utilities, and Urban Communities is offering 16,000 housing units within the Dar Misr housing project, as well as in the Rehab and Madinaty compounds, Al Borsa reported.
The terms and conditions for reserving units in the two compounds were revealed, along with the prices per square meters, which have recorded an increase since the last offering.
The price per meter square in Talaat Moustafa Group’s Rehab compound recorded EGP 7,600, and EGP 5,950 in Madinaty, according to Tarek El Sebaey, Head of the Trade and Real Estate Department at the New Urban Communities Authority (NUCA), reported Al Mal News.
This compares to prices of EGP 7,500 per square meter in Rehab and EGP 5,500 in Madinaty during the previous offering, in the case of immediate payment.
NUCA is currently offering 1,488 units in Rehab and 3,912 in Madinaty as part of the Dar Misr project targeting middle-income citizens. The areas of the units range from 58 to 162 square meters. Applicants are requested to provide a 50% down-payment of the total price of the unit, while the remainder can be paid over three equivalent annual instalments.
The Housing Ministry has been collaborating recently with private companies and contractors to build residential units for middle-income citizens in an environment with several competitors, which will result in price regulation of units, as well as increasing their quality to meet the citizens’ housing demands, stated El Sebaey.