FILE - Residential building in a Sakan Misr project
CAIRO - 26 August 2019: The Ministry of Housing, Utilities, and Urban Areas will offer soon residential units as part of Sakan Misr projects in the cities of New Damietta, New Menya, Asyut’s Nasser City, New Mansoura, and western Qena.
The surface area of the residential units to be offered is 115 square meters each. Within a month of the end of reservation on the website, buyers must pay 20 percent of the unit’s price. That is in addition to one percent as administrative fees and 0.5 percent for maintenance.
Ten percent must be paid six months after the reservation on the website and upon delivery of the unit. The remaining 60 percent will be paid as quarterly installments over four years starting three months after the receipt of the unit.
The state builds 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. That is being achieved through certain initiatives such as Sakan Misr and Dar Misr housing projects.
Dar Misr consists of around 35,000 residential units and will be accomplished over three phases. The second and third will house 43,000 units and 19,000 units, respectively. Those are distributed among nine new cities. The breakdown is 6,720 in 6th of October City; 8,760 in New Cairo; 816 in Obour; 1,104 in Shorouq; 1,056 in New Damietta; 912 in Sheikh Zayed; 11,2018 in New Mansoura; 480 in New Menya; and, 3,960 in New Obour. The surface areas are 100, 115, 130, 140, and 150 square meters.
The residences of Sakan Misr are located in 12 new cities. The breakdown is 547 units in Badr City; 1,210 in New Menya; 768 in Obour; 8,928 in New Cairo; 888 western Qena; 696 western Asyut; 8,736 in 6th of October City; 4,656 in New Mansoura; 2,160 in Shorouq; and 4,076 in New Damietta. The surface areas are 115 and 118 square meters.
All buildings in both projects consist of five floors in addition to the ground floor. However, Dar Misr buildings have elevators and are surrounded by a concrete fence. They are gated communities that encompass shopping malls, schools, and different services.
Sakan Misr is surrounded by a tree fence and a number of shops is allowed in some residential buildings, as reported by Masrawy.