Payment method.. prices of housing apartments in "Jannah" project Egypt

The New Urban Communities Authority has determined the prices of housing apartments for the Jannah project and the payment steps.

 The Urban Communities Authority has offered 10,872 housing units in the "Jannah" project, with various areas ranging from 100 to 161 square meters.

Residential units

The Urban Communities

Authority stated that the residential units of the project are located in 6 new cities, which are Sheikh Zayed, 6th of October, New Cairo, New Damietta, New Mallawi - New Mansoura.

Submission method

 Those wishing to book a housing unit in the Janna project can log on to the website of the Housing and Development Bank and register the data required to obtain the unit.

Payment steps

 Regarding the prices of housing apartments in the Jannah project and the payment procedures, the Urban Communities Authority indicated that several steps were followed for payment, including:

Payment of 20% of the value of the housing unit in addition to “1% of administrative expenses and 5.0% for the benefit of the Board of Trustees” of the total price of the unit, within a month.

 2- Paying 10% of the total unit price upon receipt, in addition to paying 70% (the rest of the unit price) in equal quarterly installments for a period of 3, 5, or 7 years, bearing interest on the debit balance equivalent to the interest rate announced by the Central Bank of Egypt at the time of offering, in addition to “2% according to the instructions of the Ministry of Finance, in addition to 0.5% collection expenses.”

First installment date

 With regard to paying the prices of housing apartments in the Jannah project, the authority indicated that:

 The first installment is due after 3 months from the date of receiving the unit.

 Unit holders can pay the remainder of the unit price, 70% of the total price, through the Housing and Development Bank’s real estate financing program, in accordance with the controls followed in this file, with the obligation to pay any amounts related to the authority as soon as their deadlines come, until real estate financing is obtained.