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New Administrative Capital nets EGP 234m pre-order proceeds

New Administrative Capital nets EGP 234m pre-order proceeds
The housing ministry announced the opening of additional units

By: Abdullah Bedier

Cairo – Mubasher: The Egyptian housing ministry has obtained around EGP 234 million in advance payment from 2,340 people who pre-ordered units in the New Administrative Capital as the value of reservation stood at EGP 100,000 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% 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 EGP 2.18 million per unit or at a minimum of EGP 1.36 million per unit, while the average price reached about EGP 1.9 million.

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 residential units in R3 project, being executed by the housing ministry in the new capital.