The Borg El Arab City Authority received new directives from the Ministry of Housing concerning the regulations of the Real Estate Committee at the New Urban Communities Authority. These guidelines, issued on September 17, provide specific rules for offering residential units to the authority’s and its agencies’ employees.
According to the Ministry of Housing’s letter presented in session No. 81 on September 12, certain regulations were added to the existing framework. The Board of Directors initially approved these rules in resolution No. 188 on March 5 and amended them in session No. 191 on May 16, 2024.
Key Points of the New Regulations:
- Prohibition on Sale or Transfer: Employees allocated residential units through a public lottery are prohibited from selling or transferring ownership for five years from the date of allocation.
- Restrictions on Power of Attorney: The issuance of a power of attorney for sale or transfer of the units is strictly prohibited. Only management-related authorizations will be permitted, based on an official letter issued by the relevant city authority, for a period of five years.
- Mandatory Declaration: All applicants from the authority and its agencies must sign a declaration agreeing to the five-year prohibition on sale. This condition will be publicly announced on the city’s official social media pages and notice boards.
- Violation Penalties: Any violation of these conditions will result in the cancellation of the allocation, and the reservation fee paid will be forfeited. If the applicant does not wish to sign the declaration or complete the procedures within the designated timeframe, they may request the return of the reservation fee through an official request.
These measures aim to ensure the proper allocation and usage of housing units provided to employees of the New Urban Communities Authority and its affiliated bodies.
