The Housing Finance Fund, affiliated with the Ministry of Housing, will open reservations for new housing units in Obour City starting Sunday, February 16. 320 fully finished apartments, with areas reaching up to 132 square meters, will be sold on a first-come, first-served basis.
Reservation Details:
- The terms and conditions booklet can be purchased from the fund’s headquarters in Nasr City for EGP 299. The office is next to Al Ahly Club in Nasr City, Cairo, and sales will begin on February 16.
- A reservation deposit of EGP 100,000 and a 2% administrative fee for each payment must be paid. The price per square meter is set at EGP 18,000.
Payment Plan for the Apartment:
- Buyers must make a 20% down payment of the total unit price within one month of reservation and pay a 2% administrative fee for each installment.
- An additional 10% of the unit price must be paid as a contract installment three months after the 20% down payment.
- Another 20% must be paid as a delivery installment three months after the contract installment.
- A 5% maintenance deposit and the garage fee must be paid before taking possession of the unit.
- Buyers opting for a two-year repayment plan can pay in equal quarterly installments without interest. The first installment will be due three months after receiving the unit.
- Buyers choosing a three- or five-year repayment period will pay equal quarterly installments with interest added based on the Central Bank’s rate.
- Under existing regulations, the remaining balance can also be settled through a mortgage financing program. Buyers must adhere to the payment terms specified in the booklet until they secure mortgage financing.
