2023-07-02 06:49:00
The Building and Housing Cooperatives Authority of the Ministry of Housing, Utilities and Urban Communities completed the procedures for applying for the new offering of residential apartments in 4 new cities, last Tuesday, June 27.
The General Authority for Building and Housing Cooperatives is offering 361 investment housing units in distinct locations in the Authority’s projects (The Pearl of New Cairo – The Pearl of Badr – The Pearl of October – The Pearl of the Tenth of Ramadan).
The authority set the date for booking and submitting applications for the residential units offered in the New Cairo Pearl project, during the period from 4 to 13 July 2023, and the Badr Pearl project, during the period from 17 to 26 July 2023, and the October Pearl project, during the period from July 31 to August 10, 2023, and the Pearl project. The tenth of Ramadan, from August 14 to August 24, 2023.
Residential unit spaces
The areas of the offered housing units start from 95 square meters up to 155 square meters, including the garage, with payment facilities of up to 7 years, with the exception of the Pearl of the Tenth of Ramadan, with payment facilities of up to 10 years, provided that the delivery will be in July 2024, indicating that in the event of payment in full (Cash) 20% of the unit price is deducted and not entered into the lottery.
Residential unit prices
The authority said that the prices of the offered housing units vary from one city to another according to the area and location of the unit, starting from 7 thousand pounds and reaching more than 10 thousand pounds per square metre, with payment facilities of up to 7 years, with the exception of the Pearl of the Tenth of Ramadan, with payment facilities of up to 10. years, with delivery in July 2024.
According to the bidding requirements, the prices of residential units in the New Cairo Pearl, the 10th of Ramadan, the Badr Pearl, and the October Pearl projects are as follows..
New Cairo apartments
The price of the 109-meter apartment in the Pearl New Cairo project amounts to one million and 383 thousand pounds. Where 106,000 serious fees are paid for entering the lottery, then 213,000 allocation payments, then a contracting payment of 213,000 pounds, and the remainder of the unit price will be paid over 5 years in quarterly installments, and the value of the installment reaches 42,000 pounds, and the monthly installment is 14,000. fairy.
However, if the apartment is paid in cash, its price will be 1,106,000 pounds.
Badr City
The 125-square-meter apartment registered one million and 322 thousand pounds, provided that an amount of 97 thousand pounds is paid as a serious reservation advance, then 164 thousand allocation payments, then a contracting payment of 164 thousand pounds, and the remainder of the unit price will be paid over 5 years in quarterly installments, and the value of The installment is 46 thousand pounds, and the monthly installment is 15 thousand pounds.
However, if the price of the apartment is paid in cash, its price will be 968 thousand pounds instead of 1 million and 322 thousand pounds.
Tenth of Ramadan Units
The 95-square-meter apartment registered 868,000 pounds. An amount of 64,000 pounds is paid as a serious reservation down payment, then 96,000 allocation payments, then a contracting payment of 96,000 pounds. The remainder of the unit price will be paid over 5 years in quarterly installments, and the value of the installment is up to 30 thousand pounds, so the monthly installment is 10 thousand pounds.
However, if the price of the apartment is paid in cash, its price will be 694 thousand pounds instead of 868 thousand pounds.
Offering units in 6th of October City
The 125-square-meter apartment registered one million and 616 thousand pounds, provided that an amount of 118 thousand pounds is paid as a serious reservation down payment, then 178 thousand allocation payments, then a contracting payment of 178 thousand pounds, and the remainder of the unit price will be paid over 5 years in quarterly installments, and the value of The installment is 57 thousand pounds, and the monthly installment is 19 thousand pounds.
However, if the price of the apartment is paid in cash, its price will be one million and 292 thousand pounds, instead of one million and 616 thousand pounds.
Methods of payment of residential units
And the General Authority for Building Cooperatives made it possible, in the event of cash payment, to deduct 20% of the unit price and not to enter the lottery, and a tender document can be obtained to know the specifications, financial amounts and all conditions in return for paying an amount of 300 pounds, starting from Monday, June 12th until Tuesday. Corresponding to June 27, at the Authority’s main headquarters, 3 Samir Abdel Raouf Street – Extension of Makram Ebeid – Nasr City.
Reservation dates for residential units
The authority set the date for booking and submitting applications for the residential units offered in the New Cairo Pearl project, during the period from 4 to 13 July 2023, and the Badr Pearl project, during the period from 17 to 26 July 2023, and the October Pearl project, during the period from July 31 to August 10, 2023, and the Pearl project. The tenth of Ramadan, from August 14 to August 24, 2023.
The date of conducting the public lottery to allocate units
Immediately following the submission door closes, the public lottery will be held to allocate the offered housing units in the Pearl New Cairo project on Sunday, September 3, 2023, while the public lottery for the Badr Pearl project will be on Wednesday, September 6, 2023, and the public lottery for the October 6 Pearl project will be on Monday, September 11, 2023. While the public lottery will be held to allocate the housing units offered in the Pearl of the Tenth of Ramadan project on Thursday, corresponding to September 14, 2023, so that the lottery for each project will take place at 12:00 pm at the El Alamein Club headquarters in front of the Authority’s headquarters.
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