Minister of Housing, Utilities, and Urban Communities Assem El Gazzar stated that online reservation of 238 housing units has begun at the ninth phase of Rehab extension project in New Cairo, Invest-Gate reports.
The reservation process took five minutes, El Gazzar noted in an official statement, adding that units vary in sizes from 92 to 131 square meters, according to a statement on April 13.
The minister said the success of the ministry’s policy in meeting the needs of all social classes to reserve units at all types of residential projects such as social, middle-income, and luxury housing.
For his part, Mohamed Anwar Hilal, vice president of New Urban Communities Authority (NUCA) for commercial and real estate affairs, said, “The number of clients who applied online reached 6,309, of whom 2,877 made payments that showed serious reservations.”
Hilal added that beneficiaries can pay the unit’s remaining value, representing 70% of the total, through the mortgage finance initiative launched by the Central Bank of Egypt.