Egypt new capital nets 234 mln pounds pre-order proceeds

Egypt’s Ministry of Housing has obtained around 234 million pounds in advance payment from 2,340 people who pre-ordered units in the New Administrative Capital as the value of reservation stood at 100,000 pounds per unit.

The number of customers who have registered their data on the ministry’s website reached 12,339, including 6,038 users who filled in reservation forms and 2,010 who made reservations, deputy housing minister said.

The housing ministry announced the opening of additional units for the increasing number of people who paid the advance amounts.

The ministry will offer nearly 12 percent additional units for reservation, which will begin as of Sunday, 12 August, assistant housing minister Khalid Abbas said.

The prices of units stood at a maximum of 2.18 million pounds per unit or at a minimum of 1.36 million pounds per unit, while the average price reached about 1.9 million pounds.

The ministry has provided various models of luxurious units with different designs and spaces ranging from 110 to 180 meters.

This is the first launching for housing units in R3 project, being executed by the housing ministry in the new capital.