Assem El-Gazzar, Minister of Housing, Utilities, and Urban Communities announces that the Buildings Finance Fund is executing 1,136 housing units in two projects in Obour City and El Wadi El Gedid, Invest-Gate reports.

El-Gazzar notes that the fund is executing 32 buildings in the extension of the Second District in Obour City, including 616 units.

He adds that 26 buildings were completed in the Dorat El-Wadi project in El Wadi El Gedid, including 520 finished units.

The total number of units completed and marketed by the Buildings Finance Fund amounted to around 35,000, excluding administrative and commercial units, El-Gazzar reveals.

Chairman of the Buildings Finance Fund, Ali Hassan Mohamed, says that units at Dorat El-Wadi were offered under the Central Bank of Egypt’s (CBE) 3% initiative for low- and middle-income citizens at an EGP 328,500 per unit.

Around 316 units are set to be offered for sale in Obour City by the end of the current fiscal year while the remaining units will be offered by the end of the coming fiscal year, he adds.