40K homes to be launched in Sakan Misr project next week

CAIRO - 19 July 2017: Egyptian Ministry of Housing and Urban Communities will launch 40,000 homes in its anticipated new housing project “Sakan Misr” next week in a public lottery.

The new houses are in six cities namely, New Cairo, 6 October City, Obour City, Badr City, New Damietta City, and New Minya, according to Wednesday ministerial statement.
The new project is part of the ministry’s special housing portfolio that contains units ranging in floor area from 100 square meters to 110 square meters. The project will be surrounded by greenery and include commercial services as well as private gardens for ground floor units.

The Minister of Housing and Urban Communities Mostafa Madbouly has announced that potential home buyers are requested to make a 10 percent down payment of the total cost of the unit, confirming that several payment methods will be available. The construction of Sakan Misr homes will be completed within two years.

Applicants can purchase the units’ specifications and reservation book, which will be available starting from August 18, from the Housing and Development Bank branches. It includes details about the project units’ designs, floor area, prices, and payment methods.