Egypt’s Minister for Housing, Utilities, and Urban Areas, Minister Assem al-Gazar recently announced that construction of Sakan Misr and Badr City social housing projects is progressing well.
Gazar said that about 1,080 residential units distributed over 45 buildings in the first and second phases of the Sakan Misr project in Badr City are in the final stage of construction, adding that the flats in 24 buildings of the second phase are being delivered by contractors to the ministry.
The minister explained that 1,272 units in 53 buildings of the first phase, and 9,024 units in 376 buildings of the second phase are still under construction.
In regards to the Badr City social housing project, Chairman of Badr City Development Agency Amar Mandour revealed that 8,424 units distributed over 351 buildings are currently under construction and that contracts have been signed with developers to construct 32,424 units in 1,351 buildings.
He stated that five medical centers in different areas in the city have already been completed, and that seven others along with a medical unit are still under construction. Similarly, eight schools are being built in different neighborhoods, while a technical education school namely Tahya Misr and a hospitality school called Talaat Harb have been inaugurated.
Dar Misr housing project consists of around 35,000 residential units and will be accomplished over three phases. The second and third phases will have 43,000 units and 19,000 units, respectively.
The above-mentioned projects are meant to offer residential units across the country for middle-class citizens whose housing needs are mostly overlooked by private developers who seek high margins of profit by catering for the luxury market.
The payment plan for this units is that 10% must be paid six months after the reservation on the website and 30% upon delivery of the unit. The remaining 60% will be paid as quarterly installments over a four years period starting three months after the receipt of the unit.