The Social Housing and Mortgage Support Fund is set to begin booking apartments under the “Sakan Lil-Masryeen 5” initiative for low- and middle-income groups, starting this week. The initiative offers immediate occupancy units and others to be delivered within 36 months, catering to various citizen needs.
Key Dates for Application
- For Individuals with Disabilities: Applications open from November 18 to 25, 2024.
- For All Citizens: Applications begin on November 26, 2024, and run until December 24, 2024.
Flexible Financing Options
The initiative offers units under reduced-rate mortgage programs to ease ownership:
- Low-income citizens: 8% annual interest.
- Middle-income citizens: 12% annual interest.
The financing term extends up to 20 years, with a 20% down payment. Booking deposits start at EGP 20,000 in provincial areas and EGP 30,000 in new cities.
Unit Prices
- Immediate occupancy units:
- Provincial areas: EGP 184,000–400,000.
- New cities: EGP 415,000–530,000.
- Units delivered in 36 months (new cities): EGP 542,000–700,000.
Application Process
- Purchase the terms booklet for EGP 300 and pay an administrative fee of EGP 355 at designated post offices.
- Fill out the attached forms and submit documents online at cservices.shmff.gov.eg.
Required Documents
- Proof of income.
- Utility bill copy.
- Family registration certificate.
- Marriage certificate (if applicable).
- Social insurance report.
- Birth certificates of dependents.
- ID copies of applicants.
- Lease agreement copy.
- Proof of deposit payment.
- Signed application form.
The initiative reaffirms the government’s commitment to providing affordable housing solutions for all Egyptians.