150 meters.. Conditions for obtaining a unit in New Cairo.. Payment details

The Economic Housing Account of the Ministry of Housing has started the procedures for booking apartments for the Nozha Al-Andalus project in New Cairo, in cooperation with the Housing and Development Bank.

Submission continues until August 22, when 380 apartments will be offered, within the Nazhat Al-Andalus project, and reservations will be made online through the first-come-first-served online reservation system through the reservation site.

According to the conditions study, the specifications of Nozha Al-Andalus apartments in New Cairo are as follows:

The project consists of 28 residential buildings consisting of a basement (garage) + a ground floor and 5 recurring floors, with 4 residential units in each floor, with a total of 672 housing units.

- The entrance and staircase to the building is equipped with floors and walls of granite. - The building is equipped with an elevator that serves the residents of the building, starting from the basement (garage).

- 24 parking spaces have been allocated for 24 housing units in the basement (garage), so that each housing unit has a place designated for parking in this garage, in addition to the surface parking spaces.

- The spaces and internal division of the residential unit were designed to suit all levels, as the spaces range from 130 to 150 square meters, and the unit consists of a reception hall of 2 pieces, 3 bedrooms, 2 bathrooms (the master bathroom and a private bathroom for the bedroom) and a kitchen.

-The apartment has been established and equipped to be compatible with the smart system in case the occupant desires to convert the apartment to smart systems in the future.

Reservation conditions and general and technical requirements

1- That the applicant for seizure be a natural person of Egyptian nationality and have the capacity to act or contract. It is permissible to apply for seizure to a person in his capacity as a natural guardian of a minor or a guardian over him by virtue of a guardianship decision.

2- The applicant or any of his family members (husband, wife, and minor children) have not previously obtained a unit or piece of land within the social housing project.

3- The booklet of conditions is an integral part of the sale contract and complements its provisions.

4- The residential units offered for sale are intended for residential use only, and the buyer or his public or private successor has no right to change the use for which the unit is designated. On the termination of the contract in accordance with "the applicable rules in this regard, as the selling prices of the units were determined for residential use only."

5- The reservation applicant acknowledges that he has read and approved all the conditions, specifications, data and information contained in this brochure, and that submitting it for reservation after paying the serious advance of the reservation is tantamount to final approval of these conditions.

6- The garages located below the buildings in the project will be allocated to the beneficiaries of the project according to the allocation method determined by the account and for a fee according to what will be clarified in the financial conditions.

Payment details for an apartment of 130 meters:

The 130-square-meter apartment recorded one million and 622 thousand pounds, where an amount of 100 thousand pounds is paid for serious reservation, then they complete 15% of the unit value, where 162 thousand pounds will be paid.

In addition, 10% of the unit value is paid within 3 months from the end of the reservation, which is estimated at 162 thousand pounds, and quarterly installments are paid for a period of 3 years, the value of the installment is 22.5 pounds, as the value of all payments will be 270 thousand pounds.

In addition, 20% of the value of the apartment is paid upon contracting, which is estimated at 324 thousand pounds. Thus, the applicant paid approximately 60% of the unit price.

The price of an apartment of 150 meters:

As for the 150-meter unit, it recorded one million and 890 thousand pounds, where an amount of 100 thousand pounds is paid for serious reservation, then they complete 15% of the value of the unit, where 221 thousand pounds will be paid.

In addition, 10% of the unit value is paid within 3 months from the end of the reservation, which is estimated at 189 thousand pounds, and quarterly payments are made for a period of 3 years, the value of the installment is 22.5 pounds, as the value of all payments will be 270 thousand pounds.

In addition, 20% of the value of the apartment is paid upon contracting, which is estimated at 378 thousand pounds. Thus, the applicant has paid approximately 60% of the unit price, and the 40% is paid in installments.

The remaining 40% of the unit price is paid as follows:

Quarterly installments are paid for a period of 3 years without interest, or 5 years with interest, according to the interest announced by the Central Bank at the time of contracting, in addition to 2%. The first installment is due 3 months after the date of receiving the unit, provided that postdated checks are presented before receiving it.

In the event that the rest of the unit price is paid within two months from the end date of the reservation, 7% of the unit value will be deducted.