CAIRO: Building on the success of their flagship project in Egypt “Haram City,” Orascom Housing Communities maintains its scheduled progress of the newest phase “Haram Life.” The new phase will span over an area of 504,000 sq meters and will include over 4,500 housing units upon completion. To date approximately 600 units were sold and their delivery is maintained at the set date. “Egypt's population is rapidly growing at 1.5–2 percent per annum with 48 percent of the population between the ages of 15 to 45 and an average of 540,000 marriages per annum. The latter puts an enormous demand for affordable housing and according to statistics, there is a shortage of tens of thousands of units every year. OHC is constantly striving to meet this continuing demand and are committed to develop high-quality affordable housing units,” said Omar Elhitamy, managing director of OHC. Haram Life offers clients designs with modern architectural layouts; the 35 buildings currently under construction will have either 8 or 16 apartments. The newly adopted architecture caters to a larger pool of the Egyptian society by providing an additional option. Buyers can also choose from two, three, and four bedroom apartments, with all units including a living room, kitchen and bathroom. To further facilitate the purchase of Haram Life units, OHC has modified payment terms and conditions. The unit's down-payment can be amortized on a period of 12 months after which the buyer starts settling the mortgage payments. Also, perspective buyers can choose between semi-finished or finished units that are expected to be delivered within two year of purchase. For further details regarding residential units and payment facilities, potential buyers are encouraged to contact OHC's hotline 19370 and visit its website www.orascomhc.com.
