63 meters and apply online.. Details of the new housing unit offering

The Ministry of Housing announced the start of reservation procedures for the new offering of medium housing apartments in the cities of New Obour and New Assiut, starting on Sunday, the 17th of December.

Documentation of conditions for medium housing apartments

The conditions document for booking middle housing apartments is scheduled to be made available on December 17th, and the allocation in this offering will take precedence through the website.

The Ministry of Housing explained that the units scheduled to be offered are fully finished, with areas ranging from 63 to 93 square metres, with 1,160 apartments being offered in the new offering of medium housing apartments.

Dr. Assem Al-Gazzar, Minister of Housing, Utilities and Urban Communities, announced the launch of 1,160 fully finished housing units, with areas ranging from (63 m2: 93 m2), in the cities of New Obour and New Assiut.

Dr. Assem Al-Gazzar explained that the allocation is based on a first-come, first-served online reservation system, through the Housing and Development Bank’s website via the link (www.hdb–reservation.com).

The Minister of Housing indicated that the terms of the offer, reservation method, locations, areas, prices, and payment method will be made available on the Housing and Development Bank’s website, starting Sunday, 12/17/2023.

Conditions for applying for the new offering

• It is expected that the same terms and conditions will apply to the new offering as to the units of the “Sakan Misr, Dar Misr, and Jannah” projects, which are as follows:

• The first installment will be paid 3 months after the date of receipt of the housing unit in the new offering, with post-dated checks for the installments being presented before receipt and payment of the maintenance deposit.

• Complete payment of 30% of the total unit price, within one month from the end date of the electronic quarantine and upon receipt.

• Pay the remainder of the unit price in equal quarterly installments over a period of 3, 5, or 7 years, according to the beneficiary’s desire, bearing interest on the debtor’s balance.

• It is equivalent to the interest rate announced by the Central Bank of Egypt at the time of the offering.

• The beneficiary is also charged 2% according to the instructions of the Ministry of Finance + 0.5% collection expenses.

• The first installment is paid 3 months after the date of receipt of the housing unit in the new offering in the cities of New Obour and New Assiut, with post-dated checks for the installments being presented before receipt and payment of the maintenance deposit for the new residential units.

In a related development, Dr. Assem Al-Gazzar, Minister of Housing, announced the delivery of a new batch of buildings from the (Egypt Housing) project in New Cairo (Fairgrounds Area - First District), for Series No. (3 - 4 - 5) of the first phase, and Series No. 2 for all the following stages of the first stage, starting from Wednesday, corresponding to 12/13/2023, until Tuesday, corresponding to January 9, 2024, on specific dates, according to the announcement from the New Cairo City Authority.