The Social Housing and Mortgage Finance Fund (SHMFF) has announced the availability of low-income housing units under the “Housing for All Egyptians 5” program. These 90 m² units, priced at EGP 270,000, are ready for immediate delivery across several governorates.
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The booking deposit for these units is EGP 20,000, with monthly installments starting at EGP 1,472. Applicants must have a minimum monthly income of EGP 3,500. During the contract phase, buyers are required to pay a minimum of 20% of the unit’s price as a down payment.
Financial Support
- Direct Cash Support: Between EGP 5,000 and EGP 40,000, depending on the applicant’s income, deducted from the unit’s price.
- Indirect Support: Approximately EGP 599,000, including:
- EGP 524,000 as an average value of mortgage finance subsidy.
- EGP 75,000 as the unit’s share of public utility installation costs.
Application Guide for 2024
The SHMFF has extended the deadline for purchasing the terms and conditions booklet and submitting booking deposits until Tuesday, December 31, 2024, instead of December 24, 2024.
Expanded Postal Network
Mai Abdel Hamid, CEO of SHMFF, confirmed an agreement with Dalia Al-Baz, Chairperson of Egypt Post, to increase the number of automated post offices selling the booklets to 590 nationwide. This step aims to reduce crowding and simplify the process for applicants. Detailed office addresses can be accessed via this link.
Online Submission
Abdel Hamid emphasized that the submission process is based on a predefined priority system rather than the timing of booklet purchase. Applicants must upload their complete documents on the SHMFF’s official website: https://shmff.gov.eg/.
This initiative reflects the government’s commitment to providing affordable housing solutions for low-income families while ensuring an organized and efficient application process.