Egypt's Minister of Housing, Utilities, and Urban Communities, Sherif El-Sherbiny, announced the availability of 320 fully finished residential units for sale in the second district of New Obour City, according to a statement by the Egyptian Cabinet. The units, which range in size from 86 to 132 square metres, will be sold on a first-come, first-served basis through the Ministry's Housing Finance Fund. Interested buyers can apply for reservations at the fund's office in Nasr City starting Sunday, February 16, 2025. Application packages detailing the conditions and specifications are available at the fund's office in Nasr City. El-Sherbiny explained that the initiative aligns with the government's commitment to providing affordable housing for various segments of society. Buyers will be required to pay an earnest money deposit of EGP 100,000, plus 2 per cent administrative fees. Additional payment instalments will be due at different stages, including 20 per cent of the total price within one month of booking and another 10 per cent after three months. For those opting for instalment payments, the remaining value can be paid in quarterly instalments over two, three, or five years, with varying interest rates depending on the payment period. The units are also available for purchase under the mortgage financing programme, subject to the Ministry's regulations. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
