Housing Fund: EGP 50,000 deposit for "Housing for All Egyptians 7" advertisement
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The Social Housing and Mortgage Finance Fund has set the deposit for "Housing for All Egyptians 7" advertisement, scheduled to be launched in July, at EGP 50,000.
Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Fund, said that the "Housing for All Egyptians 7" advertisement includes two phases of offering.
- 15,000 housing units in the first offering
The first offering includes 15,000 housing units for middle-income citizens, allocated on a first-come, first-served basis. Applications will be accepted from May 21, 2025, through June 4, 2025. Applications will be sorted to determine who meets the conditions and who does not. This will be followed by a period of grievances from citizens who do not meet the conditions. After determining the status of all customers, a period of up to ten days will be available during which eligible customers will access a dedicated website to select a specific housing unit. Eligible customers will receive text messages specifying the reservation website and reservation dates for each city.
Who gets priority in reserving housing units?
She confirmed that priority for reserving housing units in this offering will be given to middle-income customers who previously submitted applications to the Fund and were unable to pay two or more quarterly installments, and whose applications were rejected at the time. They will be given a period of time before other customers to access the website and reserve housing units.
Cities/Governorates in which the units will be offered
The cities/governorates in which the units will be offered are: Hadayek El-Asima, Badr, 6th of October, Hadayek October, 10th of Ramadan, 15th of May, Rashid, New El Alamein, New Beni Suef, New Minya, Nasser West Assiut, and New Aswan. As for the governorates, the units offered are in Dakahlia (Gamasa), Damietta (Shata - Tel Warda), the Red Sea (Hurghada), Minya (Maghagha), and Marsa Matrouh, with areas ranging from 90 to 127 square meters.
- 101,000 housing units in the second offering
The second offering includes the offering of 101,000 housing units (social housing) for low- and middle-income individuals within a number of green housing units. Applications for these units will open from July 8, 2025, to August 7, 2025, using a random electronic allocation system. This offering will be open only to customers who previously submitted applications through the "Housing for All Egyptians 5" announcement, who are not eligible for priority or do not meet the conditions (without having previously benefited from the announcement, ownership, or exceeding the income and age requirements), and who have withdrawn their deposit within the specified period. This is provided that their applications meet the requirements of the current announcement. Applications will be sorted to determine those who meet the conditions and those who do not. This will be followed by another period for receiving grievances from citizens who do not meet the conditions. The final status of applicants' applications will be determined, and the customers whose applications will be processed will be identified.
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Target cities for housing units:
This offering will include units in the New Obour cities, 10th of Ramadan City, Capital Gardens, 15th of May City, New Akhmim, New Aswan, New October City, Sadat City, Badr City, Thebes, Borg El Arab City, New Sohag City, New Qena City, and New Minya City. The offering also includes housing units in several centers in the governorates of Aswan, Assiut, Luxor, Giza, Fayoum, Minya, Menoufia, Sohag, Qena, Damietta, the Red Sea, Dakahlia, New Valley, Marsa Matrouh, and Beheira, with areas ranging from 75 to 90 square meters.
She explained that the "Housing for All Egyptians 7" announcement offers a mortgage financing system with an interest rate of 8% per annum for low-income citizens and 12% per annum for middle-income citizens, for a term of up to 20 years. The down payment for low-income citizens is EGP 50,000 and EGP 100,000 for middle-income citizens. The income limits included in the announcement for middle-income citizens are EGP 20,000 per month for an individual and EGP 25,000 per month for a family. For low-income citizens, the maximum monthly limit is EGP 12,000 per month for an individual and EGP 15,000 per month for a family. The conditions booklet, along with the registration details, and the uploading of the form and declaration (attached to the booklet) will be made available on a dedicated website. Details regarding payment of down payments, administrative expenses, and registration fees will also be made available within the announcement's conditions booklet.