Minister of Housing, Utilities, and Urban Communities, Eng. Sherif El-Sherbiny, has announced that reservations for 42 fully finished administrative units in El-Kharga, New Valley Governorate, will begin tomorrow. The units, each 100m², are available for direct sale on a first-come, first-served basis through the Housing Finance Fund. Applications can be submitted at the fund’s office in January 25th District, El-Kharga.
The announcement came during the minister’s review of the progress in the Dorra Al-Wadi project, a fully integrated residential district spanning 50 feddans in January 25th District.
Reservation Terms and Payment Plan
According to Eng. Hisham Darwish, Housing Ministry Advisor and Head of the Housing Finance Fund, the reservation process requires:
- A EGP 100,000 down payment plus a 2% administrative fee.
- Within one month, the buyer must complete 20% of the unit price, with an additional 2% administrative fee on each paid amount.
- After three months, a 10% contractual payment is due.
- Another 20% installment is required three months later, along with a 5% maintenance deposit before handover.
For the remaining amount, buyers can choose:
- One-year plan: Interest-free, paid in equal quarterly installments starting three months after handover.
- Three or five-year plans: Paid in quarterly installments with Central Bank interest rates plus 2%, with post-dated checks required before unit handover.
Interested buyers can obtain the terms and conditions booklet from the Housing Finance Fund’s offices in El-Kharga or Nasr City, Cairo.
