The Housing Finance Fund, affiliated with the Ministry of Housing, Utilities, and Urban Communities, has announced the launch of 320 fully finished residential units in El-Obour City, specifically in the extension of the Second District.
The available units range in size from 86 square meters to 133 square meters, catering to various housing needs.
According to the fund, the units will be allocated on a first-come, first-served basis through an advance reservation system. Flexible payment options are available to accommodate all applicants.
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Applications open on February 6, 2025. Interested buyers can purchase the terms and conditions booklet from the fund’s headquarters in Nasr City for EGP 299. A refundable reservation deposit of EGP 20,000 is required for submission.
The fund offers flexible payment plans, including an Islamic financing system compliant with Sharia law and a standard installment system with easy monthly payments over several years. Additionally, buyers who opt for full cash payment can receive a discount.
Applicants can inspect the units before finalizing their purchase, as per the schedule outlined in the booklet. A down payment of up to 20% of the unit price is required upon allocation, with the remaining amount payable in installments. The fund also reserves the right to reclaim any unit if monthly payments are overdue for more than three consecutive months.
Housing Finance Fund’s Role
As one of the key entities under the Ministry of Housing, Utilities, and Urban Communities, the Housing Finance Fund plays a vital role in providing diverse housing solutions to meet the needs of various income groups.
The fund aims to support the government’s comprehensive urban development plans by offering affordable housing units with flexible payment terms, contributing to improved living standards and residential stability.
New Administrative Units in New Valley Governorate
In line with the ministry’s efforts to enhance urban development across Egypt, Minister of Housing, Utilities, and Urban Communities, Eng. Sherif El-Sherbiny, announced that tomorrow marks the start of reservations for 42 fully finished administrative units in El-Kharga City, New Valley Governorate. Each unit spans 100 square meters and is part of the “Dorra El-Wadi” project, implemented by the Housing Finance Fund.