Apartments and lands … How to benefit from the seizure of housing projects in cities?

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4:30 AM

Tuesday 29 September 2020

Books – Muhammad Abdel Nasser:

The Ministry of Housing, represented by the Social Housing Fund, is preparing to launch the 14th announcement within the social housing project in a number of new cities and governorates, as the Ministry announced that it will be within a month and a half.

During the current period, there are a number of different projects that can be reserved, whether for those who wish to obtain housing units or plots of land within the series of projects that the housing started offering since last May.

Masrawy publishes the opportunities available to acquire a plot of land or a housing unit in various projects, which came as follows:

First: Medium housing units

The New Urban Communities Authority began offering 870 housing units remaining from the previous proposals, in the two projects (Housing Egypt – Paradise), in 10 new cities, and making them available to citizens for immediate reservation through the Housing and Development Bank until 12/31/2020, provided that the allocation procedures are completed with devices the cities.

And there are 544 housing units in the “Egypt Housing” project in the cities (Al-Shorouk – New Cairo – New October – New Minya – New Damietta – West Qena – “Nasser” west of Assiut), and 326 housing units in the “Paradise” project in cities (Sheikh Zayed – Al Shorouk – Cairo New – 6th of October – New Damietta – New Mallawi).

And whoever wishes to allocate a housing unit must submit an application to the Housing and Development Bank, and the financial transaction is as follows: Payment of 500 pounds for the bid book, 70 thousand pounds serious reservation for the unit in the “Egypt housing” project, and 100 thousand pounds serious reservation for the unit in the “Jannah” project It is submitted with the reservation form, and 20% of the total unit value will be paid in addition to (1% administrative expenses + 0.5% board of trustees) of the unit value within a period not exceeding a month from the date of allocation.

The remainder of the unit value of 80% of the total price shall be paid according to the following: Pay 10% of the unit price within 6 months from the date of allocation, and pay 10% of the total unit price before receipt, and pay the remainder of the unit price in equal quarterly installments for a period of 3 Years without interest, the first installment is payable after 3 months from the date of receipt, and the rest of the value can be paid in equal quarterly installments for a period of 5 years or 7 years bearing interest on the debtor’s balance for more than 3 years equivalent to the interest rate announced in the Central Bank of Egypt at the time of the offering .

Second: Medium housing in 4 governorates

On October 8, 2020, the reservation of middle-income housing units, which are offered by the ministry represented by the Social Housing Fund and Real Estate Financing Support, will end in the following areas (Badr City in Cairo Governorate, Hurghada City in the Red Sea Governorate, Port Fouad in Port Said Governorate, and the cities of Shata and Zarqa in Damietta Governorate).

For reservations in these projects, the reservation data is recorded, the form and the declaration attached to the terms of reference are uploaded on the fund’s website ([http://www.shmff.gov.xn--eg%29-u7g/]www.shmff.gov.eg), and the sale of terms of conditions will continue until the door of reservation is closed on October 8, 2020, through automated post offices in the governorates of (Cairo – Giza – Red Sea – Port Said – Damietta).

The areas of the offered units range from 103 to 120 square meters (3 rooms and a hall – fully finished), and they are delivered within 36 months, and the advance of the seriousness of the reservation is 50 thousand pounds, in addition to the amount of 200 pounds, registration fees (not refundable or refundable), and 12 quarterly payments are paid. At the rate of 2.5% of the price of the housing unit for each payment, which starts 3 months after the announcement is closed, and the remainder of the unit price is paid in the real estate financing system, for a period of up to 20 years at an annual decreasing rate of 8%, according to the initiative of the Central Bank of Egypt for middle income

Third: Social housing lands

The Urban Communities Authority started offering a new phase of social housing lands in 11 new cities, in the middle of this September, where the allocation of land is carried out by a public lottery system through the Housing and Development Bank.

The new offering of the Social Housing Land Project included 3098 residential plots of land, in the tenth phase of the project, with areas ranging between 209 and 287 meters. Land plots, from four oclock until six oclock in the evening.

It included the cities of the offering (Tenth of Ramadan – New Sohag – New Damietta – New Burj Al Arab – New Aswan – New Akhmim – New Tiba – New Qena – New Fayoum – Sadat – New Assiut).

In the new city of Burj Al Arab, 266 plots of social housing will be offered, as the pricing committee has set two prices for land in this city, namely 965 pounds and 1135 pounds per square meter.

In the new city of Damietta, 22 plots of land with an area of ​​209 meters will be offered at a price of 5115 pounds per square meter, 100 plots of land will be offered in the new city of Sohag at a price of 1760 pounds per square meter, while 73 plots of land will be offered in the new Akhmim city, at a price of 835 pounds per meter in the area of ​​55 acres.

Also, 38 plots of land in New Medical City, with an area of ​​209 square meters, will be offered at a price of EGP 1,300 per square meter.

Fourth: social housing apartments

The Social Housing Fund is preparing to launch 100,000 housing units within the 14th announcement of the Social Housing Project, as a first stage within the initiative of President Abdel Fattah Al-Sisi. To provide a housing unit for every citizen.

May Abdel Hamid, CEO of the Social Housing Fund and Real Estate Financing Support, said that a new phase of social housing apartments will be launched within the 14th announcement within a month and a half, as the proposal has been approved and is awaiting presentation to the Council of Ministers and then approval of the offering.

The CEO of the Social Housing Fund and Real Estate Financing Support added to Masrawy that social housing apartments will be offered in a large number of governorates and new cities, as well as in Greater Cairo.

And she continued, “So far, unit prices have not been determined within the next announcement, as it will be presented to the Council of Ministers to adopt sales prices and income limits.”

She pointed out that the reservation provider in the last social housing advertisements reached 14 thousand pounds, and is expected to increase slightly in future proposals, pointing out that the fund is studying increasing the size of the support that the applicant receives, as we started with 25 thousand and then became 40 thousand pounds as a maximum and is expected to reach For 50 thousand pounds.

Conditions of reservation in social housing

One of the most important conditions for attachment in social housing is that the applicant be of low income, and his net monthly income does not exceed 5700 pounds for the family, 4200 pounds for single people per month, and that a residential unit or land has not been allocated to the applicant or the family (husband / wife / minor children), i.e. Its type was in new cities or governorates, whether it was in his possession or assigned to others, or devolved to the applicant or the family by assignment from others.





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