The Ministry of Housing, represented by the New Urban Communities Authority, has announced the circumstances under which allocations for Dar Misr apartments in the latest delivery of ready-to-move units may be canceled. These apartments are being offered in several new cities.
Conditions for Allocation:
Allocations are personal and cannot be transferred or assigned in any manner, including ownership transfer, without prior written approval from the Authority. The full price of the unit and applicable fees, as per the Authority’s real estate regulations, must be paid.
Conditions for Cancellation:
- Discovery of any violations regarding the booking conditions or the terms outlined in the application.
- Upon the request of the allocated individual.
- Failure to complete payment of the required 20%, plus a 1% administrative fee and 0.5% for the Board of Trustees, from the total unit price within the allotted payment period.
- Failure to pay two consecutive installments according to the payment plan.
- Transferring or assigning the unit without prior approval from the Authority or the relevant city administration.
- Changing the designated purpose for the unit.
- Failing to sign the contract and collect the unit by the designated deadline.
Pricing of Dar Misr Apartments:
- October Gardens: 11,250 EGP per square meter
- 10th of Ramadan: 10,200 EGP per square meter
- Sadat City: 8,500 EGP per square meter
These measures aim to ensure compliance and proper management of the Dar Misr housing program, contributing to the development of urban communities in Egypt.
