Bait Al Watan’s 8th Supplementary Phase Garners $142 Mn

Bait Al Watan’s 8th Supplementary Phase Garners $142 Mn

Assem Al-Gazzar, Minister of Housing, Utilities, and Urban Communities, states that the total value of the reservation fees for land plots in the eighth supplementary phase of the Bait Al Watan project for Egyptians expats has amounted to $142 mn.

He adds that the committee in charge of the project is currently working on reviewing the allocation documents, to start registering transfers and the process of allocation based on applicable regulations and payment facilities applied by the New Urban Communities Authority (NUCA).

The minister notes that 1,477 applicants transferred reservation fees and paid 25% of plots’ values in USD.

The remainder of the plots’ values are to be paid in three equal installments, including interests as of the due date, in Egyptian pounds equivalent to the values in USD, he says.

Furthermore, Al-Gazzar reveals that the number of refund requests in the eighth phase declined from 400 with a value of around $30 mn to 130 with a value of around $8.25 mn.


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