28 December 2012

Egypt: Housing Minister to Extend Deadline of 'Beit Al-Watan' Project Till Feb. 28

Housing Minister Tarek Wafiq agreed to extend till February 28 the deadline of "Beit al-Watan" project that allows Egyptian expatriates to own lands in their homeland.

Wafiq said the ministry received many applications from Egyptians living abroad to extend the deadline, which was expected to expire at the end of this month, so that they can transfer the needed down payment to buy a plot of land in New Cairo, Sheikh Zayed, Badr city, new Minya and new Damietta.

All lands put up for sale are located in excellent areas with many facilities to be granted to potential buyers, he said.

He added that any further details about the lands, their price and reservation procedures are posted on the New Urban Communities Authority's website.

Any applicant must pay 25 percent of the total amount of the land's price as a down payment then the rest will be paid in five-year installments.

This is not the first time that the deadline of the project is extended.

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