By mid-October 2015, 31% of Dar Misr project was implemented, said the project’s supervisor Mohamed Nabih in a report for the Minister of Housing Mostafa Madbouly.
The report indicated that the project’s first phase consists of establishing 31,701 residential units in eight new cities. The phase includes implementing 13,269 units in New Cairo and 5,712 units in New Damietta.
The project also includes the building of 4,200 units in 6th of October City, 2,808 units in Shorouk City 2,688 units in 10th of Ramadan City, 2,136 units in Obour City, 528 units in Badr City and 360 units in Sadat City.
The report also highlighted the achieved percentage in each city. In New Cairo, 24% of the units were established, while 32% of the units were built in New Damietta.
As for the other cities, the report elaborated that 21% of the allocated units were established in 6th of October City, 29% in Shorouk, 32% in 10th of Ramadan City, 41% in Badr, 29% in Sadat and 37% in Obour City.
Meanwhile, the Ministry of Housing has offered 25,000 new middle-class housing units in Dar Misr. Booking is currently available for these new units.
In November 2014, the housing ministry had announced the first phase of the project, highlighting that the phase will include 30,000 residential units. However, the total number of residential units targeted in the entire project is 150,000.
The most expensive units in the first phase are located in New Cairo, priced at EGP 637,500 for 150 sqm units, while the cheapest units are located in Sadat City, at EGP 255,000 for 100 sqm units.
Applicants for the project’s units pay 10% of the unit value when reserving, and another 10% when selected on a lottery basis.