May Abdel Hamid, head of the Social Housing Fund and Real Estate Financing Support, confirmed that the deadline for paying the first installment of the fourteenth announcement barrier for the social housing project is next Tuesday, pointing out that there are about 210,000 citizens who have paid the first installment of the fourteenth advertisement units in the low-income axis, while About 6 thousand citizens paid the first installment on the middle income axis.
The Ministry of Housing had announced the offering of 125,000 fully-finished housing units to be offered by the Social Housing Fund and Real Estate Financing Support, for low and middle-income people, to be delivered within 36 months, in a number of new cities.
The CEO of the Fund stated that 100 thousand fully finished housing units were offered for the social housing project for low-income people in 12 new cities: (Badr “Capital Gardens” - October Gardens - New October “West Airport Area” - May 15 - Tenth of Ramadan - New Obour - Sadat - New Minya - New Mallawy - New Aswan - New Sohag - New Qena). It is prohibited to purchase units in cash, and payment is made through the real estate financing system at a return rate of 7% per year (diminishing) for a period of up to 20 years, and the maximum installment is Funding does not exceed 40% of the net monthly income (an annual increase of 7%), as it is calculated according to the unit sale price, income and age of the applicant.
May Abdel Hamid indicated that the conditions that must be met by the applicants to book social housing units, include that the applicant be a natural person of Egyptian nationality, and that his age is not less than 21 years and not more than 50 years at the date of the end of the announcement, and the minimum net monthly income is to deal with the system. Real estate financing is 1500 pounds, and that the applicant is of low income, and his net annual income from all sources of income does not exceed 72 thousand pounds per year for the family (equivalent to 6 thousand pounds per month) and 54 thousand pounds annually for singles (equivalent to 4500 pounds per month).
She added that 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 one declaration, and that a residential unit or land has not been allocated to the applicant or the family (husband / wife / minor children) whatever Its type was in new cities or governorates, whether it was in his possession or ceded to others, or in partnership with others, or devolved to the applicant or the family by assignment from others, and the applicant or the family (husband / wife / minor children) should not have benefited from a cooperative loan or support from the National Housing Project Or one of the public authorities that provide support for obtaining a housing unit, or a homeowner or a legal inheritance to it.
She added: It is a condition that the applicant be a resident of the governorate - in which the housing unit to which the applicant is applied is located - or who resides in it or is associated with it by work or in one of its new cities or neighboring governorates, provided that priority is given to workers or residents in the same governorate, and whoever benefits from a housing unit from Social housing units by using them for housing for him and his family on a regular and permanent basis for a period of 5 years, and he is prohibited from disposing of them or dealing with them in any kind of behavior or dealings before the passage of 5 years from the date of receipt or obtaining the approval of the Fund Board of Directors, and anyone who violates this is punished with imprisonment A period of not less than a year, and a fine of not less than 20 thousand pounds and not exceeding 100 thousand pounds, or one of these two penalties, with a ruling to return the housing unit that benefited from it and the subsidy granted (direct and indirect) and its cost, in one payment to the fund, in accordance with the provisions of the Housing Law Social and Real Estate Financing Support No. 93 of 2018 and the decisions of the Fund's Board of Directors in this regard, bearing in mind that the allocation is done electronically through a random lottery on the computer, and in the event that the number of seizures exceeds the number of units An oasis in the declared cities, the priority is according to the following order, married and dependent (including: widowed / dependent - divorced / dependent) and priority for the youngest and in case of equal age, priority is given to the most numerous family, then married and priority to the youngest, then the single and the priority for the youngest.
With regard to housing units for middle-income people, May Abdel Hamid said: 25,000 fully finished housing units for middle-income families have been offered in 11 new cities: (Badr “Capital Gardens” - October Gardens - October 6 - May 15 - Tenth of Ramadan - New Alamein - New Minya - Nasser "West Assiut" - New Rashid - New Aswan - New Beni Suef).
With regard to the conditions that must be met by applicants to reserve middle-income units, May Abdel Hamid said: The applicant must be a natural person of Egyptian nationality, and not be less than 21 years old at the end of the announcement, and the applicant must be of middle income, and his annual net income does not exceed all His sources of income are about 108 thousand pounds annually for the family (equivalent to 9 thousand pounds per month) and 84 thousand pounds annually for singles (equivalent to 7,000 pounds per month). The applicant or the family (husband / wife / minor children) is not entitled to apply for the reservation of more than one housing unit in New cities and governorates in one announcement, and that a residential unit or land has not been allocated to the applicant or the family (husband / wife / minor children) of whatever kind in the new cities or governorates, whether in his possession or assignment to others, or in partnership with others, or devolved to the applicant or The family by assignment from others, and neither the applicant nor the family (husband / wife / minor children) have benefited from a cooperative loan or support from the National Housing Project or one of the public authorities that provide support to obtain a housing unit, or the owner of a house or the legal inheritance to it, or Benefited from Real estate financing initiatives issued by the Central Bank by decisions of its Board of Directors dated February 2014 or December 2019 and their amendments.
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