The New Urban Communities Authority (NUCA) has decided to give the recipients of about 17,100 pieces of land in the social housing axis in seven new cities a deadline to complete the payment of the rest of the advance of the land reservation.
Tarek El-Sebaay, supervisor of the commercial and real estate affairs department at the NUCA, said that the authority has decided to give the recipients of the social housing lands in the complementary draw in the cities of Sadat, New Assiut, New Sohag, New Tiba, New Qena, Badr, and Al Salhyea in the public toss a deadline until 2 March in order to complete the payment of the advance to reserve the lands.
He added that payment takes place in the branches of the Housing and Development Bank (HDB) during business days from 3pm until 5pm, pointing out that in the case of not paying during the specified period, the articles of the toss’ executive regulations will be applied.
Lands are distributed on 9,415 lands in Sadat city, 1,999 in Badr city, 382 in New Salhyea, 469 in New Assiut, 3,012 in New Sohag, 325 in New Tiba, and 1,540 in New Qena.
El-Sebaay said that winners of the remaining lands in the two phases of the Dar Misr project through the public toss held last December have until 5 February to pay the remaining 20% of the unit’s value.
He added that payment takes place in HDB, and that the winners should go to the bank to recover the outstanding serious reservation amounts.
El-Sebaay noted that about 10,600 housing units were offered in the two phases of the Dar Misr project, with areas ranging between 115 sqm and 150 sqm for those who reserved the units of the first and second phases of the project who did not obtain the units through the public toss and did not withdraw the serious reservation payment.
The Housing Ministry announced Dar Misr in 2014. The first phase included 31,000 units, in addition to 25,600 units in the second phase. The investments of the project were estimated at EGP 70bn in order to implement 250,000 units.
The reservation of Dar Misr units includes paying 10% of the unit’s value in applying for it, and another 10% in allocation, in addition to four annual instalments, with EGP 30,000 or EGP 40,000 paid, followed by the rest of the unit’s value over 16 quarterly instalments.