Begins Social Housing FundThe brochures of conditions for the reservation of medium housing units in 15 cities, in the real estate financing system, will be released following tomorrow, Tuesday.
Mai Abdel Hamid, head of the Social Housing Fund, explained that the proposal includes housing units in 3 projects, which are “Sakan Misr”, “Dar Misr”, and“JANNA”The proposal is made in cooperation between the Social Housing and Real Estate Finance Support Fund, and the New Urban Communities Authority.
And the CEO of the Social Housing and Real Estate Finance Support Fund added that the “Sakan Misr” project includes offering housing units ready for immediate delivery in the cities of (New October – New Obour – New Cairo – New Minya – Badr – October Gardens – New Damietta – Nasser “West” Assiut” – Al-Shorouk), with areas ranging from 106 m2 to 133 m2, provided that the citizen pays an amount of 40,000 pounds as a down payment for the seriousness of the reservation..
Mai Abdel Hamid added that with regard to the “Dar Misr” project, it includes offering housing units ready for immediate delivery in cities (Sadat – May 15 – Sunrise – Tenth of Ramadan – Badr – New Burj Al Arab – October Gardens), with areas ranging from 100 m 2 to 150 m 2 , provided that the citizen pays an amount of 60 thousand pounds as an advance for the seriousness of the reservation, while the project includes “JANNA” Offering ready-made housing units for immediate delivery in cities (6th of October – New Minya – New Cairo – Al-Shorouk – Obour), with areas ranging from 100 m2 to 151 m2, provided that the citizen pays 80,000 pounds as a down payment for the seriousness of the reservation..
The CEO of the Fund confirmed that the new offering includes various cities at different prices to suit the conditions of all citizens, and the allocation of the units offered within the announcement will be in priority reservation, provided that the citizen pays a serious down payment on the reservation of the housing unit, registration expenses, in addition to registration and application for reservation and raising both The form and declaration on the fund’s website https://nch.shmff.gov.egduring the period from 2/15/2022 to 3/08/2022, provided that the city is selected and the housing unit is booked from the fund’s website during two periods: the first from 3/15/2022 until 3/16/2022 for the previous clients who submitted the first advertisement For the 3 projects who did not reserve housing units and did not recover the serious reservation advances, and the second from 3/17/2022 to 3/24/2022 for all applicants for the second advertisement and those who previously applied for the first advertisement (who did not reserve housing units and did not recover serious reservation advances ).
Mai Abdel Hamid said: There must be a number of conditions for citizens applying for a housing unit within the proposed announcement, including that the applicant or the family (husband / wife / minor children) is not entitled to apply to reserve more than one housing unit in the new cities and governorates in the same advertisement, otherwise The applicant or the family (husband / wife / minor children) had previously been allocated a housing unit or a residential plot of any kind in new cities or governorates, whether it was in his possession or assigned to others or in partnership with others or transferred to the applicant or the family by assignment from others within projects The social housing program, and that the applicant or the family (husband / wife / minor children) should not have benefited from the real estate financing initiatives issued by the Central Bank by the decisions of its board of directors dated February 2014, December 2019 and their amendments, or July 2021, and the applicant acknowledges the validity of the submitted data and documents. From him upon seizure, and in case of violation, he shall be criminally and civilly liable, and the fund or/or the entity owning the units has the right to cancel the allocation and recover the unit without warning or a court ruling, and to take all legal measures to preserve the rights of They.
She added: The conditions also include, that the applicant be a natural person of Egyptian nationality, and his age shall not be less than 21 years at the date of the end of the announcement, and he shall have the capacity to act and contract, and his age shall not be more than the retirement age (determined by the Social Insurance and Pensions Law promulgated by Law No. 148 of 2019). ) on the date of the end of the loan term (determined according to the credit study of the financing entity), and the age of the applicant from the pensioners and pension beneficiaries is not more than 75 years on the date of the end of the loan term, provided that a minimum 40% of the unit value is paid as an advance, with the pension transferred to The financier is also prohibited from purchasing housing units in cash and is obligated to contract and pay the subsidized real estate financing system through the two initiatives of the Central Bank of Egypt for middle-income people by the decision of its board of directors issued on December 2019 and its amendments for a maximum period of 25 years at a rate of return of 8% annually (decreasing) for citizens who do not The total sources of their monthly income exceed 40,000 pounds for singles, and 50,000 pounds for the family, or the initiative issued on July 2021 for a maximum period of 30 years at a rate of return of 3% annually (decreasing) for citizens who do not exceed The sources of their monthly income are regarding 10 thousand pounds for the single and 14 thousand pounds for the family.
