Engineer Amr Khattab, the official spokesperson for the Ministry of Housing, Utilities, and Urban Communities, announced that the mortgage finance initiative launched by the Central Bank of Egypt targets low-income individuals with an annual interest rate of 8%, while middle-income earners are eligible for a 12% annual interest rate, with repayment periods of up to 20 years.
During a televised interview, Khattab added that the second offering of the “Housing for All Egyptians 7” initiative includes more than 113,000 residential units across new cities and various governorates.
The ministry spokesperson pointed out that individuals who were not successful in acquiring units under the “Housing for All Egyptians 5” initiative can now apply for 34,000 new apartments in recently developed cities. In addition, 690 ready-to-move-in units are available in several governorates as part of a special offering for those applicants.
Khattab explained that administrative fees amount to EGP 350 per applicant, with an additional EGP 350 for registration expenses. For the previous “Housing for All Egyptians 5” offering, the fees were only EGP 150, and applicants were required to fill out a simple application form.
To stay updated on the latest official real estate offerings and browse thousands of housing units across various cities, visit the official Egypt Real Estate Platform — your trusted destination for finding a suitable home for you and your family.