02:53 PM
Saturday, March 18, 2023
Mohamed Abdel Nasser wrote:
The Social Housing and Real Estate Finance Support Fund will start offering the new phase of housing apartments for all Egyptians 4, on March 26, for middle and above-average income, which includes housing units ready for immediate delivery.
The new offering came after the Council of Ministers, in its meeting No. 230, approved the request of the Ministry of Housing, Utilities and Urban Communities regarding approving the sale prices of these housing units at the free price, in accordance with the decision of the Board of Directors of the Social Housing Fund and Real Estate Finance Support No. 3/20/2023 dated 30 -1-2023.
The terms and conditions for booking are as follows:
First.. places of reservation
1- New Cairo, Cairo Governorate.
2- Bayad al-Arab, Beni Suef Governorate.
3- Al-Aslouji, Zagazig Center, Sharkia Governorate.
4- Hurghada and Safaga in the Red Sea Governorate.
5- Damanhour, Beheira Governorate.
6- The cities of Zarqa and Shata in Damietta Governorate.
The residential units offered within the advertisement vary in size, and the spaces of the residential units start from 75 square meters up to 127 square meters.
Second.. the allocation system
Allocation takes precedence over booking electronically, and the priority system will also be applied, where the priority in reserving units is for customers who previously applied for the fund’s advertisements to the same cities offered in the current advertisement, provided that the advance amount is not withdrawn due to the seriousness of the previous reservation and not to allocate and benefit from a housing unit in the previous advertisements.
The payment of the reservation seriousness advance starts during the period from Sunday, March 26th to Thursday, April 13th, provided that the door to book the units is opened electronically during the period from Sunday, April 30th to Thursday, May 4th.
Third… Reservation conditions:
– The applicant or the family (husband / wife / minor children) is not entitled to apply for the reservation of more than one housing unit in the new cities and governorates in the same advertisement, and the applicant or the family (husband / wife / minor children) has not benefited from previous real estate financing initiatives issued by The Central Bank according to the decisions of its Board of Directors dated February 2014 or December 2019 and their amendments or issued on July 2021.
– The maximum period of time for receiving housing units (6 months) from the date of receiving the delivery letter from the financing entity, and giving an additional period of (6 months) to withdraw the unit in case it is not received.
The applicant acknowledges the validity of the data and documents submitted by him upon reservation, and in case of violation he will be criminally and civilly liable, and the Fund has the right to cancel the allocation and recover the unit without warning or a judicial ruling and take all legal measures to preserve his rights with the application of the provisions of the Social Housing and Real Estate Finance Support Law No. 93 of 2018 and its amendments .
– In the case of contracting in cash, an exception is made from the foregoing. A condition that has previously benefited from the above-mentioned Central Bank of Egypt initiatives does not apply to the applicant.
The offered residential units are for permanent residence, and the buyer or his public or private successor has no right at any time to change the use for which the unit is allocated.
– The client’s payment of an advance amount, the seriousness of the reservation and the progress to reserve the residential unit/s as an acknowledgment by him that he has read all the conditions, specifications, data and information detailed in the booklet of conditions and accepted them as a final and irrevocable approval. The offering and the unit you are submitting for reservation.
– Allocation is personal, and the customer applying to reserve a residential unit may change/replace housing units with another customer for one time only before contracting, granting financing, and receiving the unit. Taking into account the controls and requirements in force with the fund, provided that the housing unit is not disposed of except after paying the full price of the unit and with the written approval of the fund in accordance with the rules in force in this regard.
