“3% interest” … What are the advertisements that the housing sector will put up with the financing system?

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10:21 PM

Wednesday 31 March 2021

Books – Muhammad Abdel Nasser:

The Council of Ministers headed by Dr. Mustafa Madbouly announced the agreement to put forward a number of housing projects during the cabinet meeting today, Wednesday.

The projects that will be offered are as follows:

First announcement:

It is an agreement to sell housing units previously offered to middle-income earners within the announcement of the first phase of the “housing for all Egyptians” project with previously available lands from the New Urban Communities Authority, which it will make available in accordance with the terms of the new presidential initiative for real estate financing at a rate of return of 3% annually for a period of up to 30 years, Provided that the implementation shall be carried out in a manner that does not exceed the number of 20 thousand housing units, and in the event that the number of applicants increases for the housing units, the allocation shall be made by the random electronic lottery system.

The second announcement:

It was agreed to announce the sale of ready-to-delivery housing units from excess or vacant units according to the sales rules approved by the Council of Ministers, with an increase in the sale price by 10% for middle-income housing units in a number of cities, in addition to announcing the sale of ready-to-delivery housing units available in the cities of Nasser. West of Assiut, West Qena, Bani Soliman and Ihnasia in Beni Suef, with 5828 units at the approved sale price of the housing units previously proposed by declaring “housing for all Egyptians” for low-income people with an area of ​​90 square meters, with cash subsidies ranging between 5 and 60 thousand pounds, according to income.

Third Announcement:

It was agreed to announce the sale of housing units previously offered as investment housing units in Badr City in Cairo, Hurghada in the Red Sea, Port Fouad in Port Said, Shata and Zarqa in Damietta, upon completion of their implementation under the same conditions previously established, with an increase in the sale price by 10% for above average income groups. .

Fourth Announcement:

It was agreed to put up announcements related to the new central bank initiative at a rate of return of 3% annually, for a period of up to 30 years, for middle-income citizens (those with a net monthly income of up to 10 thousand pounds per month for singles and 14 thousand pounds for the family, as well as the initiative of the central bank with a return of 8 A decreasing percentage annually for up to 20 years, for above average income groups (those with a net monthly income of more than 10 thousand pounds per month for singles and 14 thousand pounds for the family).

Read also:

The government: accommodating those who hold housing apartments for all Egyptians as part of the 3% initiative

Those who meet the conditions … When does the quarterly installments start for “housing for all Egyptians” apartments?





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