Madinaty and Rehab Continue to Witness High Demand from Buyers

Wednesday, 19th October 2016

A total of 811 units were reserved in Rehab and 660 units in Madinaty in two days’ time, according to a statement by the Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly.

Priority was given to applicants who made the 50% down-payment of the total price of the unit up front. The offered units ranged in area from 58 to 162 square meters and are ready for immediate delivery to residents.

As noted earlier this week, the Housing and Development Bank witnessed high demand on previously offered units in Madinaty and Rehab, after the Ministry of Housing, Utilities, and Urban Communities offered 5,400 units in Rehab and Madinaty, and an additional 10,600 as part of the Dar Misr program.

Applicants were requested to pay a down-payment of 50% of the total unit price through the Housing and Development Bank, with the remainder of the sum to be paid over three annual installments.

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