Open the door for bookings for low- and middle-income housing units in the “Durrat Al Wadi” project

Assem Al-Jazzar, Minister of Housing, Utilities and Urban Communities, announced the launch of housing units ready for immediate delivery to low- and middle-income citizens within the first phase of the “Durrat Al-Wadi” project in the city Kharga in the New Valley Governor, in collaboration between the Social Housing Fund, Real Estate Financing Support and the Housing Financing Fund. .

Dr. Assem El-Gazzar added that the offered units fall within the initiative of the Central Bank of Egypt for real estate financing, which was directed by President Abdel Fattah El-Sisi, the President of the Republic, against a 3% reduction interest for a maximum period of 30 years, issued on 13 July 2021.

Mai Abdel Hamid, CEO of the Social Housing and Property Financing Fund, explained that the new proposal includes the presentation of 160 housing units in the city of Kharga in the New Valley governor (the first phase), and they are divided between low-income units citizens and units for middle-income citizens.

She pointed out that the low-income units have an area of ​​about 110 square meters, three rooms and a hall, and the selling price of the dwelling unit is 328.5 thousand pounds, while the value of direct cash support is between 5 thousand vary. to 60 thousand pounds, and the value of indirect support is in the range of 689 thousand. EGP represents in (the maximum value of property financing return support in addition to the value of the unit’s share of the cost of implementing public utilities and the difference in the cost of building the unit) in addition to 60 thousand pounds, provided the serious booking provider 15 thousand pounds and administrative expenses are 405 pounds, payable 10% as a minimum of the total sale price of the dwelling unit to complete the rest of the booking provider from the contract.

The CEO of the Social Housing and Property Financing Support Fund added that the middle-income units cover an area of ​​about 110 square meters, three rooms and a hall, and the selling price of the dwelling unit is 328.5 thousand pounds. , and there is no direct cash support for the unit, and the value of indirect support is in the range of £ 653 000. Represents in (the maximum value of property financing return in addition to the value of the unit’s share in the cost of implementation of public utilities and the difference in the cost of building the unit), provided that the seriousness of the discussion is £ 20 thousand and the administrative expenditure £ 405, provided a minimum of 15% of the total is paid. The sale price of the dwelling unit to complete the rest of the booking provider on the contract.

Mai Abdel Hamid explained that the citizen who wants to book a housing unit within the units offered in the Durrat Al Wadi project can buy the terms of reference for the submission, which will be made available by the mechanized post offices at the level of the New Valley Governor, and it will be available to pay a serious down payment of the booking of the dwelling unit and administrative expenses in the mechanized post offices.At the level of the Republic, the booking dates, the filing of the form and the recognition attached to the booklet of conditions will be recorded on the fund’s website during the period from Monday, 9 May 2022 to Wednesday, 11 May 2022 (only for citizens with disabilities), and from Thursday, 12 May 2022 to the day Thursday, 26 May, 2022 (for all citizens, including people with disabilities).

Conditions to be met to reserve units
The CEO of the Social Housing and Property Financing Fund said that there are several conditions that the person who wants to reserve the offered housing units must meet, including that the applicant is a natural person of Egyptian nationality, and the age of the applicant must not be less than 21 years should not be on the date of the end of the advertisement, and the age of the applicant should not be more than low. The income is more than 50 years at the date of the announcement, and the age of the average income applicant is not more than the retirement age (determined by the Social Insurance and Pensions Act promulgated by Act No. 148 of 2019) to the end of the loan period (determined according to the credit study of the financing entity), and the applicant’s age is not more than Medium-income pensioners and beneficiaries of pensions for 75 years at the end date of the loan term, provided that a minimum of 40% of the unit value is paid as an advance payment, with the pension transferred to the financing. The applicant is also prohibited from purchasing units in cash and is committed to contracting and repaying the property financing system for a limited period.Maximum 30 years.

Mai Abdel Hamid added that the maximum net source of income for low-income people is £ 4,500 per month for an individual and £ 6,000 per month for a family, while the maximum net source of income for middle-income earners is £ 10,000. per month is for an individual and £ 14,000 for a family.

She explained that neither the applicant nor the family (husband / wife / minor children) has the right to apply to book more than one dwelling unit in the advertisement, and that the applicant or the family (husband / wife / minor) children) have not benefited from previous property financing initiatives issued by the Central Bank by decisions of the Council of Ministers Its administration on February 2014 or December 2019 and their amendments or on 2021, and that the applicant or the family (husband / wife / minor children) had not previously assigned a housing unit of any kind in new cities or governors, whether it was in his possession or ceded to others or in partnership with others or to the applicant or the family to deviate from other distances do.

She added that it is stipulated that the applicant or the family (husband / wife / minor children) may not have previously allocated a residential plot of any kind in new cities or governors, whether it was in his possession or ceded to others. or was in partnership. with others or transferred to the applicant or the family by renouncing others, and not The applicant or the family (husband / wife / minor children) benefited from a cooperative loan or support from the National Housing Project or one of the public authorities that provide support for the acquisition of a housing unit, and the applicant or the family (husband / wife / minor children) is not the owner of a house or transferred to him by legal inheritance, and that the applicant of the New Valley Governorate is – in which the housing unit is requested – either living in or associated with it for work or the neighboring governorates, provided priority is given to workers or residents in the same governor. Middle income applicants are excluded from this.

Personalization priority for customers
On the other hand, she explained that priority will be given to the award to clients who have previously applied for social housing program projects (the third announcement – the fourth announcement – the eighth announcement “under construction”), as well as the barriers to the National Project for Alaska 2005-2009 in the city of Kharga in the New Valley governor, for those who are They are out of priority and have not withdrawn the booking advances, and housing units have not been allocated to them in the city before, provided they sign the statement relating to that appendix in the booklet of conditions and pay the differences in the severity of the booking advances as mentioned in the booklet of conditions.

It also confirmed that the beneficiary of a housing unit of the housing units in the Durrat Al-Wadi project in the city of Kharga is obliged to provide it for housing for him and his family on a regular and permanent basis for a period of 7 years to use. for low- and middle-income people. It is prohibited for him to dispose of or deal with it in any form of conduct or transaction before the expiration of 7 years for low and middle income persons from the date of receipt or approval of the Board of Directors of the Social Housing Fund, real estate financing support, and payment for services decided in this regard in accordance with the decision of the Board of Directors of the Fund. Anyone who violates this will be punished with imprisonment for a period not less than one year and a fine of not less than twenty thousand pounds and not more than one hundred thousand pounds, or one of these two penalties. With the ruling to return the usufruct housing unit and the support provided (directly and indirectly) and its costs in one go to the Social Housing and Property Financing Fund, in accordance with the provisions of the Social Housing and Property Financing Act. 93 of 2018 and the decisions of the Fund’s Board of Directors in this regard.She indicated that the applicant must acknowledge the validity of the data and documents submitted by him at booking, and in case of breach he will be criminally and civilly liable, and the Housing Financing Fund or the Social Housing and Property Financing Support Fund have the right to to cancel the grant and recover the unit without warning or a court decision, and to take all legal measures to preserve its rights with the application of the provisions of the provisions of Social Housing and Property Financing Act No. 93 of 2018 and its amendments, the decision to move the Housing Financing Fund No. 494 of 1979 and its property regulations adopted by the Chairman of the Board of Directors Resolution no. 63 of 2017 was issued.

The CEO of the Social Housing and Property Financing Fund explained that it is possible to communicate directly with the Fund through its communication channels, through the official page of the Social Housing and Property Financing Fund on the Facebook website through the following link: http: // www.facebook.com/shmffeg, and the official page on YouTube via the following link: https://www.youtube.com/shmffeg, and the official page of the fund via Twitter via the link www.twitter.com/shmffeg And the fund’s official page on Instagram via the link www.instagram.com/shmffeg, as well as the fund’s website www.shmff.gov.eg, or by dialing the telephone numbers of the Fund’s Customer Service Call Center at the numbers: 5999, 5777 or 1188 from any mobile phone, and 090071117 from any landline from 09:00 to 15:00 on all days of the week, except on Fridays and Saturdays, during the holy month of Ramadan, or by going to any of the customer service centers in the city agencies / housing directorates.

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