The Ministry of Housing has announced the establishment of 20,000 residential units for low income families. The government also released the terms and conditions for applicants.
As a part of the “1 million units” initiative, the Ministry of Interior has announced the availability of 20,000 residential units, starting Sunday. The units are distributed over 18 provinces with plans for further expansion.
Mostafa Madbouly, the Minister of Housing, added that this is the fourth announcement the ministry has made and it plans to add more units monthly. All units are a standard 90 m with three bedrooms and a living room.
Advertised units are all fully completed and are scattered over the provinces of Al Qaliyubiah, Al Sharqiah, Al Daqahliyah, Al Menofiya, Al Beheirah, Al Gharbiya, Fayyum, Assiut, Sohag, Qena, Aswan, Luxor and the Red Sea.
The Ministry of Housing has also released the requirements for applicants. The units are intended for Egyptians with an income under 3000 EGP and with no history of property ownership. Applicants must also be between the age of 21 and 45 be residents of the province they apply in.
The “One Million Housing Unit” initiative was started in July 2014 by the Ministry of Housing, it aims to provide low income Egyptians with quality affordable housing in their districts. The cost of the unit can be paid in a period of up to 15 years with very low interest rates.