A new offering for social housing apartments in 4 new cities.. Details and conditions

The New Urban Communities Authority decided to give clients allocated housing units in the last offering in the projects (Sakn Misr - Dar Misr - Jannah - Premium Housing - Katameya Gardens) a month to complete the payment of reservation advances.

The Minister of Housing, Utilities and Urban Communities, Dr. Assem Al-Jazzar, stated that these are the ones who booked these units electronically during the period from 26/3/2023-   4/5/2023, and they have a month period from the date of their notification by the Housing and Development Bank, to complete the payment of the booking advances loaded with burdens. From the date the original deadline expires on May 18, until the date customers make the payment.

Customer facilities

  This is in order for the authority to facilitate the clients who were unable to pay the reservation advances within the time period specified in the bidding requirements.

Eng. Amin Ghoneim, Vice President of the New Urban Communities Authority for Real Estate and Commercial Affairs, said that the deadline comes in response to the requests submitted by some clients for whom the units are allocated.

Allowing them to complete the payment of reservation advances after the expiry of the prescribed period, as the number of customers who completed the reservation advances reached 12,208 clients, and the number of customers who did not complete the reservation advances reached 657 clients.

He added, "The Housing and Development Bank shall notify customers of the deadline by means of a registered letter with acknowledgment of receipt to their addresses, or send a text message (SMS) to the phone numbers recorded in customer reservation requests.

In the event of payment, the rest of the procedures shall be completed in accordance with the rules, and in the event of non-compliance, the applicable rules in this regard shall be applied.

Social housing

In related context, Major General Walid Farouk, Chairman of the Board of Directors of the General Authority for Building and Housing Cooperatives, revealed the date for offering new apartments for social housing and the conditions required for submission.

Farouk explained that the units that will be offered will be in the cities of New Cairo, Badr, 6th of October, and the Tenth of Ramadan, pointing out that the units range from 109 meters to 150 meters, and they are units ready for delivery, and the roads will be very close.

Unit prices

He explained that until now, the unit prices have not been finalized, but the average price per square meter will be between 7,000 and 10,000 pounds, stressing that the official prices will be made available in the booklet of conditions, in addition to all the details of the terms of the offering and the method of submission.

He pointed out that the commission's proposals during the coming period will depend on paying 50% of the unit price before delivery, which is a serious payment for reservation, then a contracting and receiving payment, while the rest of the unit price will be installed over payment periods of up to 10 years, loaded with the interest declared by the Central Bank.