The Egyptian Housing Fund will begin receiving requests to reserve units for low-income groups on November 18, according to Mai Abdel Hamid, CEO of the Fund, in an interview with Al-Sharq.
Abdel Hamid added in the interview, on the sidelines of the World Urban Forum in Cairo, that the first phase of the offering includes units ready for delivery and others that will be delivered after 3 years. She also pointed out that the Fund adjusted the maximum income for the target groups of its programs, to become 12 thousand pounds for individuals and 15 thousand pounds. For low-income families, 20,000 pounds for individuals, and 25,000 pounds per family for middle-income people.
The Egyptian Housing Fund is withdrawing 20 billion pounds this year, from a total loan of 50 billion pounds agreed upon with an alliance of 11 Egyptian banks. The Ministry of Finance included about 3.1 billion pounds in the fund’s budget to support the interest difference on the loan obtained by the fund.
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