Assem El-Gazzar, the Minister of Housing, Utilities, and Urban Communities, has announced that the Social Housing and Mortgage Finance Fund opened the transfer window for the supplementary announcement of the first offering of “Sakan Kol El Masryeen 3” under the real estate financing system, Invest-Gate reports.

This opportunity is available to citizens who were included in the first advertisement but are not currently within the priority for available low-income housing units. Eligible applicants must not have withdrawn the reservation deposit and should not have been allocated a housing unit in the same advertisement previously.

Mai Abdel Hamid, the CEO of the Social Housing and Mortgage Finance Fund, stated that the applications for the supplementary announcement will be open from Sunday, December 3, 2023, for a period of one month until Thursday, January 4, 2024. The terms and conditions booklet, including the transfer process, will be available on the official website of the fund.

Abdel Hamid explained that the supplementary announcement for “Sakan Kol El Masryeen 3” includes 90-sqm units comprising three rooms and a hall. The offering consists of units that are ready for immediate delivery, with the same price and conditions as the original announcement, as well as units that will be ready for delivery within 36 months. The latter option offers a fixed interest rate of 7.5% for a 20-year period.

Additionally, the amount of support provided to citizens has been doubled from EGP 60,000 to EGP 120,000 for units that will be delivered within 36 months. This increase aims to counter the negative impact of global economic conditions on prices.