Dear Sir, Chairman of the Board of Directors,

Greetings,

With reference to the real estate financing initiatives issued by the Central Bank for low- and middle-income groups at reduced interest rates, which resulted in providing suitable housing for these categories in addition to contributing to the advancement of the real estate sector, which is of great importance in supporting the economy and driving the production wheel, which has a positive impact on the gross domestic product through employing many different industries and sectors such as contracting, construction, and building, in addition to the positive social impact through creating job opportunities in various projects and industries along with providing suitable housing according to citizens' needs.

In light of the above, and with the aim of supporting more segments of society from the low- and middle-income categories to obtain suitable housing at reduced interest rates, the Board of Directors of the Central Bank has decided the following:

Issuing a real estate financing initiative under which an amount of 100 billion Egyptian pounds is allocated through banks targeting customers from the low- and middle-income categories according to the following conditions:

1. Real estate financing necessary for customers who meet the initiative's conditions is provided through banks or real estate financing companies at an interest rate of 3% (calculated on a declining basis) for a maximum period of 30 years.

2. Real estate refinancing companies are allowed to participate in the initiative by refinancing the portfolios of financing companies that meet the initiative's conditions.

3. Compensation for the interest rate difference is calculated based on:
   The Decision and from the date of its implementation.
   Credit Rate + 3% - 3% (calculated on a declining basis)

4. The value of compensation for banks for the interest rate difference shall not be less than 5% in all cases.

5. The applied interest rate for customers shall not be changed after disbursement and throughout the loan period.

6. This initiative applies to current beneficiaries of the real estate financing initiative for middle-income people issued in December 2019 at an interest rate of 8% (calculated on a declining basis), in case they meet the conditions of the new initiative subject to this decision.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

7. Special conditions for income categories:
   To be issued by the Social Housing and Real Estate Financing Fund.* To be amended according to

8. Accept financing for self-employed individuals with the mandatory use of a digital assessment method by giving scores to assessment elements, for example, but not limited to: income level and its stability, reputation, age, with the possibility of relying on some additional criteria such as the existence of a verifiable consumption pattern with knowledge of the customer's regularity in it through (electricity bill, mobile phone bill, landline phone bill, installment payments for consumer goods if any), in addition to the number of years practicing self-employment, and social burdens (e.g., supporting children, father and mother...), according to the details to be sent in the memorandum.

9. Possibility of applying the increasing installment throughout the financing period.

Please be kind enough to alert regarding compliance with the above, as well as with the attachment containing the procedures and executive rules for this decision effective from its date.

Yours faithfully,
Tarek Amer

1. Customers Benefiting from the Initiative: A. Must be of Egyptian nationality.

B. The customer/family (including minor children) is entitled to benefit from the initiative for only one residential unit, provided that the customer has not benefited from previous real estate financing initiatives, regardless of any real estate loans the customer obtained outside the framework of the Central Bank's real estate financing initiatives.

C. The customer's age shall not exceed the retirement age (determined by Social Insurance and Pensions Law No. 148 of 2019) at the end of the loan term. For pensioners and pension beneficiaries - regardless of the customer's age - they can benefit from the initiative provided that they pay a minimum of 40% of the unit value as a down payment, such that the customer's age at the end of the loan does not exceed 75 years, with the pension transferred to the financing entity.

D. The injured and families of martyrs from the army and police (relatives up to the second degree) applying to reserve residential units are exempted from applying the maximum income limit condition, for files received from the Social Housing and Real Estate Financing Fund.

E. For current beneficiaries of the real estate financing initiative for middle-income people issued in December 2019 and its amendments, who meet the conditions of the new initiative, the applied interest rate can be modified to become 3% declining from the date of the customer's request, as well as modifying the loan term - according to their wish - to reach a maximum of 30 years.

2. Conditions of the Financed Unit:
A. It must be for permanent residence and not for tourist or seasonal housing.

B. The unit must be fully finished and ready for habitation.

3. Financing Procedures and Conditions:
A. Compensation for the interest rate difference covers the following:

1. Commission on the highest debit balance.
2. Returns and other commissions.
3. Valuation and mortgage fees and any other fees (e.g., insurance and registration).
   Subject to the application of tax and stamp fees according to prevailing laws.

B. The financing includes the maintenance deposit with a maximum percentage of 10% of the unit price.

C. Administrative fees are applied at a rate of 0.5% for low-income individuals and 1% for middle-income individuals, to be amortized over the loan term at the same interest rate as the initiative.

D. Compliance with the credit granting controls issued by the Central Bank of Egypt, with the following minimum requirements:

1. Conducting inquiries about customers through the Egyptian Company for Credit Information and the Central Bank's Credit Risk Aggregation Department to ascertain previous dealings with the banking sector, in addition to confirming that the customer has not repeated obtaining financing under the Central Bank's real estate financing initiatives.

2. Providing a system for evaluating and analyzing customer creditworthiness, based on:

   • Guidelines for developing digital customer assessment systems - Attachment 2
   • Procedures for accepting and evaluating customers - Attachment 3

3. Obtaining any of the guarantees stipulated in Article (2) of the Executive Regulations of the Real Estate Financing Law issued by Law No. 148 of 2001, including the following:

   • First-degree real estate mortgage or registration of the guarantee in deposit, taking into account the decision of the Minister of Housing, Utilities, and Urban Communities No. (100) of 2014.
   • Temporary assignment of allocation throughout the financing period, taking into account the decision of the Minister of Housing, Utilities, and Urban Communities No. (146) of 2021.
   • In all cases, the financier may accept whatever other guarantees they deem appropriate, observing the controls set by the Financial Regulatory Authority.

E. Banks receive low-income customer applications through the Social Housing and Real Estate Financing Fund, whether the unit is among the fund's units or other units meeting the conditions.

F. The customer's data is registered in the electronic system of the initiative to strictly control the purchase of only one residential unit, so that the information of the customer obtaining credit approval from one of the banks or one of the financing companies is instantly available to all parties, and then the rest of the banks and companies refrain from dealing with them within the framework of the real estate financing initiative.

G. For the family, the connection data with the spouse is entered and updated after submitting documents proving a change in the customer's social status through the bank or real estate financing company.

H. Upon declaring the loan value to the Central Bank's Credit Risk Aggregation Department and the Egyptian Company for Credit Information, initiative customers must be separated through the codes available on the electronic system.

I. The assessment prepared by the Ministry of Housing or the New Urban Communities Authority for the financed units, or real estate appraisers listed in the lists of expert houses registered with the Central Bank of Egypt, is used, observing what was stated in the circular letter dated June 12, 2014, regarding real estate appraisal fees, as a means to reduce the cost of real estate appraisal.

1 Reflects the present value of the unit. The assessment must be recent.

4. Sale, Delay in Repayment, or Default:
A. In case the customer wishes to sell the unit or prepay the financing, the following procedures are followed:

1. The customer returns the support amount in the interest rate (value of compensation for the interest rate difference) from the date of disbursement until the year of sale or full prepayment, according to the percentages listed in Attachment 4 during the first 7 years of the loan term, and during the rest of the loan term.

2. The bank or real estate refinancing company returns the support amount to the Central Bank.

3. No prepayment commission is applied.

B. A delay interest of a maximum of 2% added to the final lending rate for the customer is applied to the installments due, on the installments that the customer has not paid. In case the customer's request to restructure the debt is approved, pricing is according to the initiative rate.

C. In case of customer default, the support amount is returned using the percentages determined in the year of default listed in the table in Attachment 4, to be done immediately upon the unit's return to the financing entity, on the installments from the date of disbursement until the date of return, whereby the Central Bank must be notified at the end of each quarter with the value of units whose ownership resulted from customer defaults.

5. Other Conditions:
A. Within the framework of the initiative, paragraph (a) of item six of the creditworthiness evaluation criteria for customers and provisions for the rules governing the determination of the fair market value of real estate and commercial collateral is modified, so that the fair value of the assets subject to mortgages is determined at least once every five years instead of every three years, in line with the conditions of previous real estate financing initiatives.

B. Confirmation of what was stated in the decision of the Board of Directors of the Central Bank of Egypt dated April 4, 2006, regarding the modification of creditworthiness evaluation criteria and provisions, by reducing the general risk provisions for real estate loans for the purpose of purchasing or renovating residential units from 3% to 1%.

C. For real estate financing companies, the following is observed:

1. Signing a binding contract (protocol for dealing) between banks and companies to apply all conditions and work procedures of the initiative, especially regarding lending rates and conditions for customers.

2. Companies claim compensation for the interest rate difference through banks.

3. Confirmation that real estate financing companies disburse to the real estate developer before refinancing through real estate refinancing companies.

D. The Banking Operations Sector at the Central Bank of Egypt is notified of the required compensation value during the first week of each month, observing the separation of the compensation value for financing company customers from the month following the real estate disbursement in an independent claim.

E. The Supervision and Inspection Sector periodically follows up to verify the extent of banks' compliance with the above and the quality of the portfolio formed within its scope, and to verify the correctness of the data entered on the system and those that will be returned on the forms that will be sent to banks subsequently.

(Attachment 2) Guidelines for Developing Digital Customer Assessment Systems

With reference to the decision of the Board of Directors of the Central Bank of Egypt dated May 24, 2005, regarding the criteria for evaluating customer creditworthiness and forming provisions, which included the necessity for banks to use the digital assessment method when granting real estate loans for personal housing by giving scores to all assessment elements which include:

Element	Description
Customer's Monthly Income	-
Stability of Income	-
Reputation	-
Job	-
Age	-
Social Status	-
Education Stability	-

In addition to the previous elements, some additional criteria can be relied upon when evaluating customers, especially those practicing self-employment, crafts, and commercial, industrial, and agricultural activities whose income is difficult to prove:

• Additional income that can be accepted with inquiry about it.
• Savings account balance and movement at the post office.
• Bank account balance and movement (if any).
• Existence of a verifiable consumption pattern with knowledge of the customer's regularity in it through (electricity bill, mobile phone bill, landline phone bill, installment payments for consumer goods if any).
• Number of years practicing self-employment, crafts, and commercial, industrial, and agricultural activities.
• Social burdens (e.g., supporting children, father and mother...).
• Wife's work (if any).
• Type and area of residence.

Item	Description	Minimum Months
General Work Experience	-	Not less than 6 months
Employment Stability	-	6 months for employees in the private sector and 6 months for employees in the public sector.
Self-Employment Stability	-	Not less than 6 months for those practicing self-employment, crafts, and commercial, industrial, and agricultural activities.
Guarantees	-	-
Installment-to-Income Ratio	According to Law No. 148 of 2001 (Real Estate Financing Law and its Executive Regulations), the total monthly installments = Net monthly income after deducting insurance and social security premiums + percentage not exceeding 40% for the monthly income as follows:

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,000 Egyptian pounds
Middle Income	20% of the unit price up to 1.4 million Egyptian pounds	10,000 Egyptian pounds

As determined by the Social Housing and Real Estate Financing Fund.

Category	Down Payment	Minimum Monthly Income
Low Income	10% of the unit price up to 1.1 million Egyptian pounds	4,500 Egyptian pounds
Middle Income	15% of the unit price up to 1.1 million Egyptian pounds	6,00

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[RegAlert note: the English text above is a translation of the first 24,000 characters of a 37,626-character original (64% of the document). The remainder was not translated. The complete original-language text is stored with this document.]