The Ministry of Housing, represented by the New Urban Communities Authority, continues to receive applications for reserving medium-income housing apartments in the Valley Towers project in October Gardens after announcing an increase in the number of available housing units for reservation to 2406 units ready for immediate delivery, under the same conditions as previously announced.
Valley Towers apartments in October Gardens range in size from 95m2 to 101m2. To view the terms of the offer, reservation method, location, sizes, prices, payment methods, and tender documents, please visit the Housing Axis Units website at www.reserve.newcities.gov.eg until the reservation deadline on August 29, 2024. The date and location of the public manual draw between applicants will be announced later.
Conditions for reserving New Urban Communities Authority apartments for medium-income individuals:
1. The applicant for reservation must be a natural Egyptian citizen.
2. The applicant must be at least 21 years old at the time of the offer.
3. The applicant must have the capacity to act and contract and not be a legal entity.
4. It is permissible to apply for reservation as a guardian for a minor.
5. Families (husband, wife, and minor children) are not allowed to apply for more than one unit.
6. The provisions of Law No. (59) of 1979 regarding the establishment of new urban communities, the Authority’s real estate regulations and amendments, Law No. 119 of 2008 and its executive regulations are applicable, complementary to the requirements stated in this document where there is no specific provision in it.
7. The announcement and the tender document are an integral part of the sales contract and complementary to its provisions.
8. The residential units offered for sale are designated for residential use only, and the buyer or their successors are not entitled to change the designated use of the unit. In case of violation, the Authority’s real estate regulations will be applied in this regard, with the contract being terminated without notice, warning, or court order, and the necessary actions will be taken upon contract termination in accordance with the rules applicable in this regard, as prices for the sale of units are designated for residential use only.
9. The applicant acknowledges that they have read all the terms, specifications, data, and information and have agreed to them, and that submitting the reservation after paying the reservation deposit constitutes final approval of these terms.
10. Applying for any of the residential units listed in this document is considered a conclusive acceptance of all the terms stated in this document, as well as a conclusive acceptance of conducting an inspection and full knowledge of the site of the offer.
11. Unless there is a specific provision in these terms, they are subject to the principles and rules applied by the New Urban Communities Authority and all relevant laws, real estate regulations, and amendments applied by the Authority and the agencies, as well as all decisions and rules followed in this regard without objection from the applicant, whether currently or in the future.
12. Each residential unit has a share of the land equal to the unit’s area as a percentage of the total area of the building on the land.
Prices for New Urban Communities Authority apartments for medium-income individuals:
1. The prices of the units are determined per square meter with the units listed in the attached tables, including the premium rates for each unit.
2. The maintenance fee, set at 8% of the unit’s value as indicated in the real estate conditions in the document, is to be paid upon contracting.
3. An estimated value of 1% of the unit’s value is set for maintenance work for the first year from the delivery date, to be paid in advance upon contracting until achieving a return on the deposit, which will be used in the following year, and a settlement will be made at the end of the year.
4. Contractual fees set according to the rules, as well as the expenses of the unit’s facilities (gas, electricity, water) if the Authority has connected them to the unit.
Payment methods for New Urban Communities Authority apartments for medium-income individuals:
1. The reservation deposit of EGP 150,000, in addition to EGP 1,000 study fees that are non-refundable, must be paid in one installment using the following payment method:
A. Click on „Reservation Deposit Payment“ from the reservation procedures menu.
B. The applicant is directed to the electronic payment gateway (Fawry) where payment can be made via a bank card, Fawry Pay, or bank transfer, as follows:
Cash payment via Fawry.
Payment by bank card.
Payment by bank transfer (ACH).
According to the detailed steps of the previous reservation process.
Payment method for New Urban Communities Authority apartments for medium-income individuals:
1. Payment of the remaining unit value.
2. The client goes to the city’s device to complete the payment of 20% plus 1% administrative fees + 0.5 for the benefit of the Board of Trustees from the total unit price within a month from the date of the public manual draw’s end.
3. Payment of 10% of the total unit price upon delivery using the same completion payment method.
4. The remaining 70% of the unit price is to be paid in equal quarterly installments over 3, 5, or 7 years, bearing interest on the outstanding balance equal to the interest rate announced by the Central Bank of Egypt at the time of the offer, plus 2% according to the Ministry of Finance’s instructions + 0.5% collection fees and according to the value indicated in the attached installment tables.
5. The first installment is due 3 months after the unit’s delivery date, with post-dated checks to be submitted before delivery.
6. In case the client wishes to pay the full price or a down payment exceeding the required 30% and specified timing, the scheduling will be recalculated on the outstanding balance according to financial rules and accounting systems while adhering to the interest rate announced by the Central Bank of Egypt at the time of the offer.
7. In case of delay in paying any installment beyond the due date, a late payment penalty equal to the Central Bank’s prevailing interest rate at the time of payment will be applied, plus 2% according to the Ministry of Finance’s instructions + 0.5 collection fees from the installment amount from the due date until the payment date.
Steps and link for reserving New Urban Communities Authority apartments for medium-income individuals:
1. Visit https://reserve.newcities.gov.eg and select the units axis. Those interested in applying for reservation should follow the steps below:
2. Review the tender document or print it to know all the details and review all the required data before submitting the application.
3. Create a new account and fill in all the mentioned data if you have not previously registered on the Housing Portal website.
4. Enter the national ID number and the name on the card.
5. Enter the email address of the applicant, as it is the permanent means of communication between the Authority and the applicant for reservation.
6. Enter the Egyptian mobile number.
7. Governorate of residence and current address for official correspondence.
8. Marital status and details of the spouse (name and national ID).
9. Upload a copy of the national ID card (front and back) in one document not exceeding 2 MB in size.
10. Create a password / confirm the password / verification code / confirm the verification code.
11. Click on account registration.
12. A message will be sent to the registered email to confirm the registration and will contain a link that must be clicked to activate the account.
13. Your account has been activated, and you can log in using the email and password.
14. The applicant enters the username and password to access the system.
15. The applicant reviews the general location of the units offered and when entering the project (neighborhood), there is a link to submit a new reservation request.
16. The applicant selects or modifies the following data: „City – Project – Floor to be reserved.“
17. Upload the required documents (national ID of the spouse, birth certificates of minor children) and compile them into a PDF file not exceeding 2 MB.
18. When clicking on the reservation request submission, a message will appear confirming the preliminary reservation request has been saved, and the final reservation for the residential unit will not be made until the deposit (reservation deposit + study fees) is transferred as stated in the application conditions during the reservation period. The reservation requests list for the applicant will also appear on the same page.
19. The applicant will be provided with a reservation deposit payment code and a reference number for Fawry to use when paying the following: „Study fees payment – Reservation deposit payment as stated in the tender document.“
20. The applicant pays the reservation deposit as stated in the tender document, in addition to the study fees.
21. The applicant attaches a declaration of the accuracy of all entered data and the necessary documents for submission as specified in the tender document page, then clicks on the request registration. A message will be sent confirming that the request is under activation until the payment document is attached before the specified reservation deadline in the announcement.
22. The public manual draw will be conducted among the applicants according to the specified roles (ground floor – mezzanine – top floor) they applied for.
23. The specialists at the Authority will study and review the applications submitted for the residential units and make decisions.
24. Click on the reservation deposit payment from the reservation procedures menu, and the applicant will be directed to the electronic payment gateway (Fawry) where payment can be made via a bank card, Fawry Pay, or bank transfer (ACH) as follows:
First: Cash payment via Fawry. The client chooses the cash payment method via Fawry.
1. The client will receive a reference number for payment.
2. The client goes to the nearest Fawry Plus branches, My Fawry application, ATM, bank wallet, or telecommunications companies‘ banking services and technological centers with devices in cities (1) October – October Gardens – New October – Sheikh Zayed – New Cairo – El Shorouk – El Obour – Borg El Arab New – Tourist Villages – New Assiut).
3. The client will receive a receipt confirming the payment from Fawry branches.
4. Fawry will review the payment status, then the site will send an SMS confirming the payment and change the request status to paid.
Second: Payment by bank card. The client pays using any bank card.
2. The client enters the card number, expiration date, and the three numbers shown on the back of the card.
3. The transaction request is sent to the Fawry gateway.
4. The client is redirected to their bank’s page with a message sent to the registered mobile number in the bank containing the secret number for online purchases through the bank issuing the card.
5. The client enters the secret number on the bank’s page.
6. Fawry will review the payment status, then the site will send an SMS confirming the payment and change the request status to paid.
Third: Payment via bank transfer (ACH). The client selects the payment method via bank transfer (ACH).
1. The client selects the payment method via bank transfer (ACH).
2. The client will see the bank account number to transfer to if choosing to confirm the payment through the ACH bank transfer system.
3. The client uses the bank transfer system of their bank, whether through the mobile application or by visiting the nearest branch of their bank, ensuring the correct entry of transfer details according to the following: „Client’s full name – Fawry reference number – National ID – Reservation code – Mobile number registered on the website – International bank account number IBAN.“
4. The client confirms the payment and attaches the transfer document on the reservation website in PDF-JPG-JPEG format.
5. Wait for the request confirmation until the review is completed.
6. Fawry will review the payment status, then the site will send an SMS confirming the payment and change the request status to paid.
25. Print the reservation form with the declaration and signature and upload it from the upload reservation form menu.
The third step (actions taken):
1. Applicants will be notified of the study results and the decision on the submitted requests for the units through (the applicant’s registered email – SMS messages) and the date and location of the draw among the applicants according to the specified roles by the client.
The fourth step (refund):
1. In case of non-award, the reservation deposit will be refunded according to the payment method used to pay the deposit, with the applicants bearing the expenses.
A. Cash payment via Fawry: An SMS or email will be sent to the client with the refund code valid for one month to return the amount from Fawry Plus branches.
B. Payment by bank card: The amount will be refunded to the same card used for payment.
C. Payment via bank transfer (ACH): The amount will be refunded to the same bank account used for the transfer.
The fifth step (completion):
1. The client goes to the city’s device to complete the payment of the reservation deposit plus (1%) administrative fees + 0.5% for the benefit of the Board of Trustees from the total unit price within a month from the date of the public manual draw’s end.
2. Complete the payment of the unit’s total value (according to the financial terms in the tender document).
In conclusion, the process of reserving apartments through the New Urban Communities Authority for medium-income individuals involves a detailed set of conditions, payment methods, and steps to follow. By adhering to the outlined procedures and requirements, applicants can secure their desired housing units in the Valley Towers project in October Gardens. It is essential for interested individuals to carefully review all information provided and ensure compliance with the specified guidelines to successfully complete the reservation process.