The government is to allow citizens to apply for obtaining residential units in the premium housing project “Sakan” on August 18, Invest-Gate reports.

Applicants have to be aged 21 years old or older and should not have previously purchased a residential unit or a land plot in any of the social housing projects. Only one individual from a married couple is allowed to purchase a residential unit in the social housing project.

Applicants are required to give a down-payment of 10%. If the candidate gets selected in the following tender offer, he or she will have to pay 10% of the residential unit’s total price. This will be followed by installments that fit each applicant. The installment period is up to 15 years.

The resident units in Sakan project span an area of 115 square meters and are located in the cities of New Cairo, 6th of October, Obour, New Damietta, New Minya, and Badr.