Egypt To Cover More Cities Under Low-Income Housing Program In 2024
Egypt’s low-income housing program offers affordable residential units to financially challenged Egyptians, and the project is expanding in 2024, opening up in 14 more cities in Egypt.Founded in 2018, the Social Housing and Mortgage Finance Fund (SHMFF), is a governmental entity of the Ministry of Housing, Utilities & Urban Communities (MHUC), which provides affordable residential for low and middle-income Egyptians, with a variety of tenure, housing types, and locations. The SHMFF’s housing units are located in El Shorouk City, October Gardens City, New October City, New Damietta City, and New Cairo City. In 2024, the project will expand all over Egypt, offering new, fully finished units in New October City, 15th of May City, New Cairo City, Badr City, Capital Gardens City, Sadat City, and various other new cities. The affordable residential units are constructed in areas that, while sometimes remote, have basic infrastructure such as access to water, plumbing, electricity, and drivable roads The unit’s range in size from 75 to 90 square meters and are delivered upon completion. Social housing prices for the year 2024 range from EGP 184,000 (USD 3,882) to EGP 400,000 (USD 8,439) per unit, depending on the size and location of the residential unit. According to the announcement, the reservation deposit is set, usually ranging from EGP15,000 (USD 316) to EGP22,000 (USD 464). The MHUC specifies the payment methods for the reservation deposit, whether the announcement includes units for immediate delivery or units for delivery in 3 years. Applicants must be between 21 and 51 years old and make monthly at least EGP2,700 (USD 57) and not more than EGP 7,000 (USD 148). Retirees under 75 years old are also eligible to apply. It helps to know that married couples cannot obtain more than one unit. Applicants must not have previously benefited from the project, acquired a unit, or received land from MHUC. To apply for a residential unit, documents such as a copy of the national ID card, birth certificate, proof of education, and utility bill are needed. Males need to submit a military service status, and if married, they need to provide a birth certificate for the wife as well. The MHUC has confirmed that it is preparing the land and cities to offer them to contracting companies before making them available for citizen reservation.
Tags : Egypt low-income housing program national ID card birth certificate proof of education utility bill Social Housing Mortgage Finance Fund