(DNE File Photo)
By Shaimaa Elise
The total number of housing unit buyers in the million-unit middle-class housing project reached 41,564, and the total number of tenders bought is 77,679, according to a Ministry of Housing, Utilities and Urban Communities statement
The ministry has begun allocating 13,000 housing units to the beneficiaries of the first stage of social housing project in the cities of 10th of Ramadan, Sadat and New Assiut, the statement read.
The report revealed that Prime Minister Ibrahim Mehleb delivered the first stage of units to the beneficiaries in the three cities last week.
The ministry is working on developing a mechanism for allocating units to the beneficiaries of the former national project in the governorates. This is due to these governorates not having built the units, despite receiving payment for them.
At the same time, the ministry has decided against building in the governorates that do not currently have a demand for subsidised housing, or reducing the number of units offered there until the demand increases. In addition, the ministry will increase units in high-demand areas, to meet the needs of the citizens
Minister of Housing Mostafa Madbouly said that the allocation began several days ago, after the concerned authorities finished reviewing the beneficiaries’ papers. They had also determined the value of the subsidy per unit, which is calculated according to the beneficiary’s income.
“The ministry has completed an inventory of commercial, administrative and investment shops, for the first and second phases in the social housing project in the new cities and governorates,” said Madbouly.”After inventory, these shops will be put up for auction, and take advantage of their profits for the benefit of the Social Housing Fund, and build new units, as well as providing the required services”.
Madbouly added the ministry is working on allocating housing units to the beneficiaries of the former national project. These units will be announced as soon as possible after being submitted to the cabinet.
Madbouly pointed out that the ministry is studying a deadline for eligible applicants to complete the required papers.
The minister stressed that he will address the cabinet within a few days to announce amending the regulations of mortgage regarding the maximum amount received by the beneficiaries, which would amount to EGP 3,000 rather than EGP 2,500.
The Egyptian government signed a contract with the UAE’s Arabtec Holding to implement a project to build 1mn housing units at a total cost exceeding EGP 280bn ($40bn).
Arabtec aims to build 1mn affordable homes for middle-income Egyptians on 13 plots of governorates across the country.
