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Subsidy Conditions

Subsidy Conditions

  • 1- The applicant should be an Egyptian.
  • 2- The applicant’s age should not be less than 21 years at the date of applying and the applicant has the legitimacy to act and contract.
  • 3- It is permissible to apply for a unit for another person in case this person is minor or und guardianship and the applicant is his/ her Legal guardian.
  • 4- The residential units offered for sale are intended for residential use only, and the buyer or his public or private successor - at any time - is not entitled to change the use of these units. In case of violating this rule, the New Urban Communities Authority real estate regulation will be applied in this regard with the termination of the contract, cancellation of the assignment, retrieval of the unit(s) and all other measures resulting from the termination of the contract without warning, issuance of a court order, or the buyer objection.
  • 5- The Social Housing Law and Mortgage Financing Fund No. 93 of 2018, the Mortgage Finance Law No. 148 of 2001 and its executive regulations and their amendments, the Unified Building Law No. 119 of 2008 and the reservation conditions approved by the Cabinet (shown later in that call for applications’ brochure) are an integral part of the conditions for obtaining a residential unit from social housing project.
  • 6- “The call for applications” and its “terms & conditions brochure” are considered an integral part of the sales contract and complementary to its provisions.
  • 7- In the event that any of the conditions and obligations mentioned in this brochure are violated, the applicant will be criminally and civil responsible, and the entity that owns the units (Social Housing Fund) has the right to cancel the allotment, retrieval the unit(s) and terminate the contract without the need of warning, issuance of a court order, and all other measures resulting from the termination of the contract with the application of the provisions of the Social Housing Law and Mortgage Financing Fund and the Mortgage Finance Law and its amendments.
  • 8- The residential units have no share in the land.
  • 9- The applicant or his/her family (husband/ wife/ minor children) isn’t previously benefited from public housing projects.
  • 10- The applicant or his/her family (husband/ wife/ minor children) doesn’t own a residence or legal inheritance.
  • 11- Income level according to 13th call for applications:
    • * For the family (husband / wife / minor children): the net income from all sources of family income does not exceed EGP 68400 pounds annually, equivalent to EGP 5700 per month, and that the net monthly income of the family is not less than EGP 1300, which is the minimum for dealing with the mortgage financing system.
    • * For the single: the net income from all sources of income does not exceed EGP 50400 annually, equivalent to EGP 4200 per month, and that his net monthly income is not less than EGP 1300 pounds, which is the minimum for dealing with mortgage financing system.

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