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National Housing Project · Purpose: Provision of 85000 housing units for low-income youth – 500000 units/year. · Duration: 6 years. · Estimated budget: LE 25 B. · Starting date: 1/10/2005 · Completion date: 30/9/2011. · Executing Authority: Ministry of |Housing (National Housing Authority). Synopsis - This is one of the Projects aiming at solving the housing problem. This comes by provision of affordable housing for youth and low-income categories, which is one of the main highlights of President Mobark election campaign for providing 500000 housing units on 6-year term basis. - Direct state subsidy of the project is one billion Egyptian pounds/year, namely, a maximum of LE15000 as no refundable grant for each unit. - Payment of LE5000 as down payment for each unit, LE160monthly installment (upon unit takeover), with progressive 7.5%interest rate for 20 year - LE 30000 credit by National, Misr, Housing &Development Banks along with different payment options. Deliverables 1) Number of bookings is 72271 in the new (16) cities . 2) Signature of credit protocols , for executing authorities , with Central Bank of Egypt, National, Housing& Development banks for project finance. 3) Allocation of 6330 feddans for investors lands for construction of 292781 units. 4) Signature of protocol agreement with NUCA for construction of 20000 lease housing units 5) Signature of protocols for construction of ( 36-40M2 ) units including 40000 units with NUCA in the new industrial cities for workers housing 6) Planned provision of parcels (Ibny Baitak project) for satisfaction of all eligible candidates (about 91736).Any candidate has the option for building two units( two floors),thus adding more 183 000 units in later periods. National Housing Project in the New Cities 1) Ownership of Housing Units in New Cities . 2) Investors Lands in New Cities: ý Marketing such units shall be contract based one ý Allocated cities :6th of October-Sheikh Zaied-10th of Ramadan-Badr-Obour-Shrouk-New Minya-New Sohag-New Borg Elarab-Sadat) for 128 companies in about 6330 feddan for building 292781 units 3) Smaller areas" Build your House " in the new cities: - ý Provision of 150m2 parcels for youth and low income categories(LE70/M2) with total value of LE10500-10% of which as down payment whereas the outstanding shall be paid on an equal non interest seven installments, starting on year of the parcel take over. ý Building on 50% of the area with optional building of two higher floors, thus the built up area shall be 225 m2. All architectural,structural,sanitary and electrical drawings are free handed to the applicants. ý Payment of LE15000 subsidy for people, as follows: ý 1st phase: LE5000 upon completion of excavation and foundation works. ý 2nd phase: LE5000 upon completion the basement floor forming. ý 3rd phase: LE 5000 upon completion of finishing works ý Number of candidates About 92 000 ý Provided Parcels About 9400 feddan in all project cities, thus covering the required numbers.
- Adv for Ibny Baitak Booking for 150m2 parcels for construction of 63m2 housing units (15/1-15/2/2007). Number of eligible candidates ( so far) is 91736
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