real estate finance| Rent and own apartments.. How do you get a unit of “housing” in 2022?

09:00 am

Wednesday January 12 2022

Books – Mohamed Abdel Nasser:

The Ministry of Housing is preparing to launch a number of projects during 2022, as a large number of citizens are waiting for the Ministry of Housing’s proposals in various projects, to book them and obtain a housing unit.

The beginning of the offerings will be with medium housing, which was confirmed by Mai Abdel Hamid, CEO of the Social Housing and Real Estate Finance Support Fund, saying: “The new offering of medium housing apartments is Jannah, Housing Egypt and Dar Misr will be in cooperation with the Urban Communities Authority, where the units are sold with real estate financing in favor of Commission”.

She added that the units are expected to be launched within two months from now on the real estate financing system.

According to the Ministry of Housing, the units that will be offered are ready for delivery, fully finished, and most of them are included in the presidential initiative for real estate financing, with an interest rate of 3%, and there will be units compatible with the 8% initiative.

Last August, the Ministry of Housing announced the launch of several real estate financing projects, which are expected to start within the next two months:

– Egypt housing, with 12 new cities: (New October – October Gardens – Obour – New Cairo – New Alamein – New Mansoura – New Minya – Badr – West Qena – New Damietta – Al-Shorouk – and Nasser “West Assiut”).

– Dar Misr project, with 8 new cities: (15 May – Sadat – Tenth of Ramadan – October Gardens – Sunrise – New Cairo – Badr – and New Burj Al Arab).

– Jannah project, with 8 new cities: (6 October – Al Shorouk – Sheikh Zayed – New Cairo – New Mansoura – New Minya – New Damietta – New Mallawi).

Rental apartments from the Ministry of Housing:

It is expected that 2022 will witness the launch of a new phase of rental apartments, as the President has commissioned 100,000 units to be launched under the rental system.

Mai Abdel Hamid, CEO of the Social Housing and Real Estate Finance Support Fund, said that the fund is currently in the stage of developing a framework and features for the program for offering 100,000 apartments for rent, which was commissioned by President Abdel Fattah El-Sisi.

She added, in televised statements, that the president’s goal is for people to walk around in apartments, and to meet the desires and needs of citizens, pointing out that the current trend to offer apartments for rent is directed to those who are unable to pay the reservation advances and own an apartment.

She indicated that communication with the governorates will begin to determine the available lands on which the units will be implemented, so that these units are in the existing urbanization, and are not far from the whereabouts of citizens, so as not to cost many transportations.

And she continued, “The lease term will be specified in the contract as well as the rent value, and it will be in alternatives available to applicants, and the unit can be owned at the end of the rental period.”

She emphasized that the units will be furnished and ready to be rented, and at the end of the rental period, ownership of the unit will be made available, with the monthly rent being deducted from the unit price.

The date of launching the social housing apartments:

And on the date of offering social housing apartments, the CEO of the Social Housing Fund confirmed in televised statements that the 16 announcement of social housing is currently incorrect news, as there is no current proposal for the project, pointing out that the last offering for low-income people was two months ago within “Sakan.” For all Egyptians 2.

And she continued, “It is expected that after the end of the reservation in the average housing apartments, a new phase will be launched for low-income apartments,” saying: “We are trying to make an announcement to two each year.”

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