Ministry of Housing Offers Fully Finished Administrative Units in New Valley

Engineer Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, announced the launch of 42 fully finished administrative units in Al-Kharga City, New Valley Governorate. Each unit is 100 square meters and is being offered for sale on a first-come, first-served basis through the Housing Finance Fund.

Overview of the Project

These administrative units are part of the Dorra Al-Wadi Project, executed by the Housing Finance Fund in the 25th of January neighborhood in Al-Kharga. The project spans 50 acres and aims to establish an integrated residential district with comprehensive services.

Minister El-Sherbiny emphasized that this initiative aligns with the government’s directive to provide residential and administrative units suitable for various societal segments, ensuring appropriate housing and investment opportunities.

Reservation Details

Engineer Hisham Darwish, Advisor to the Ministry and Head of the Housing Finance Fund, confirmed that the administrative units are available for reservation on a first-come, first-served basis. Interested buyers can obtain the specifications booklet from the Fund’s office in the 25th of January neighborhood in Al-Kharga, or the office in Nasr City.

Reservation Timeline and Requirements

• Reservation Start Date: Sunday, February 2, 2025.
• Reservation Fee: EGP 100,000 as a down payment, plus 2% administrative fees.
• Payment Phases:
  1. Within one month of reservation, buyers must complete 20% of the unit price plus 2% administrative fees.
  2. Three months later, a 10% contract payment is due.
  3. Another 20% payment is required three months after the contract payment.
  4. A 5% maintenance deposit is to be paid before unit delivery.

Flexible Payment Plans

The remaining balance can be paid through the following options:

• One Year Plan: Interest-free, with equal quarterly installments starting three months after unit delivery.
• Three or Five-Year Plans: Equal quarterly installments with Central Bank interest rates plus 2%, beginning three months after unit delivery. Postdated checks for the installment amounts are required before delivery.

This initiative demonstrates the ministry’s commitment to creating accessible housing and administrative opportunities while providing flexible financing options to suit a wide range of buyers.