A government meeting with real estate developers to discuss the participation of the private sector in the implementation of apartments for low-income
Representatives of the Ministry of Housing held a meeting with a number of real estate developers, in the presence of the leaders of the Social Housing Fund and the support of real estate financing, to discuss the mechanisms of their participation in the implementation of social housing projects, thus increasing the participation base and maximizing the positive role of developers to meet the needs of citizens in the housing sector.
"The State is interested in the participation of the private sector in the implementation of the social housing project, which is one of the important national projects currently being implemented by the state to provide urban housing units in integrated housing communities," said Mei Abdul Hamid, As well as participation in the provision of units in the medium housing, to meet the increasing demand for housing units of various types, explaining that the partnership reflects the mutual trust between the government and the private sector, and confirms beyond a shadow of a doubt that the governance Meh recognizes the importance of the role of the private sector to participate in the development process, which is currently taking place in Egypt in various fields.
During the meeting, the real estate developers reviewed the initiatives of the Real Estate Development Chamber, the Real Estate Investment Division and the Egyptian Real Estate Council to participate in the implementation of the social housing project. The main features of the project are the acquisition of land plots divided into two parts, In which 90 to 150 m2 are built, and the other is a "social part" in which social housing units are built (3 rooms and a hall, fully finished). Price limits are set for social housing units, Terms of the program N social in terms of income and age, and be customer financing through banks mortgage-backed fund all forms of support offered by the Fund, which includes cash support, and support the interest system by income level.
She stressed the need for developers to review the conditions proposed by them, so that the price limits are suitable for low-income, and the implementation of social housing projects will not exceed 3 years, explaining that the prices of free land area of the project will be determined by the pricing committees in each city separately.
The developers will have to sell to eligible citizens the terms of the social housing program, which is periodically reviewed according to inflation rates, unit rates and income levels, she said. The social housing and mortgage finance fund determines the value of the cash subsidy, Interest in coordination with the Central Bank, and banks financed for beneficiaries.
(t) Housing Project (t) Social Housing Project (t) Limited Income (t) Real Estate Developers (t) Private Sector
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