By Menna Zaki
Minister of Housing, Utilities and Urban Communities Mostafa Madbouly announced that the Housing and Development Bank would on Sunday make available the terms of reference for 4,000 plots of land. The plots were offered by the New Urban Communities Authority in nine new cities via public lottery as part of the social housing programme, according to an official statement issued by the ministry on Thursday.
Madbouly said that the land would be provided with complete facilities and that the area of a plot of land ranges from approximately 209 to 276 squared metres. He also pointed out that the Housing and Development Bank would continue accepting terms of reference from 30 March to 8 May.
Madbouly added that 19 plots of land have been offered up for sale by the ministry in Sohag, 124 in 10th of Ramadan city, 500 in Assiut and 846 in Sadat, which will be used for the establishment of social housing units for citizens.
The land will be offered for sale at a fixed price over four installments and without interest. The minister said that a group of up to four individuals are authorised to reserve a single plot of land provided that they meet certain conditions mentioned in the terms of reference.
The reservation conditions dictate that: the applicant be at least 21 years old; neither the applicant nor any family members be in possession of land; and the applicant be born, residing in or working for the governorate in which the plot of land is located.
The Ministry of Housing had previously announced its cooperation with the Central Bank of Egypt to construct low-middle income housing projects to be completed by the end of June.
In addition to the residential units project, which will be a joint operation between the UAE’s Arabtec Construction and the Egyptian armed forces, will be constructed within the next five years.
