January, 2023
Within the framework of Egypt’s plan for developing urban areas and providing adequate housing for all Egyptians, over the years it has established various real estate projects that not only serve Egyptians but Egyptians living abroad as well. And one of the most important projects is Beit Al-Watan. Let's take a closer look at this great project in Egypt.
Beit Al-Watan is considered one of the largest and most important projects launched by the New Urban Communities Authority, which is affiliated with the Ministry of Housing, Utilities, and Urban Communities. This project has been implemented throughout different areas and governorates across the country, especially in newer cities such as 4G Cities, and is directed towards Egyptians living abroad with the aim of giving them an opportunity to own properties or land plots in Egypt. It is worth noting that this project was named “Beit Al-Watan” as a way of strengthening the connection between Egyptians living abroad and their homeland.
This project aims at encouraging all Egyptians living abroad to invest in properties in Egypt, which is what is also referred to as real estate exporting, as a method of attracting foreign currencies to significantly boost the Egyptian economy.
Beit Al-Watan project is being built over eight phases. In the following table, we will illustrate the launch date of each phase along with each’s land area and the cities included:
This project contains many residential units, such as apartments, duplexes, twin houses, townhouses, and villas, in addition to many commercial and administrative units.
If you invest in a land plot in this project, the building percentage must not exceed 50% of the total area of land and the remaining half must be devoted to green spaces. In addition, residential buildings must not go beyond a basement, a ground floor, and three typical floors. If the land area is less than 950 m2, then each floor will contain only two residential units, but if it is more than 950 m2, then each floor will contain three units.
In regards to unit spaces, apartments start from 100 m2 up to 400 m2, while villas start from 250 m2 up to 1200 m2. As for administrative and commercial units, they start from 36 m2 up to 500 m2.
In order to obtain a unit or land in Beit Al-Watan project, an applicant must meet the following conditions:
• Holds an Egyptian citizenship. • Over 21 years old. • The necessity of adhering to the real estate regulations of the Urban Communities Authority. To know more about those regulations, click here.
When applying for a unit or land in Beit Al-Watan, you should consider the following:
• Priority is given to those who transfer the full down payment amount. If the down payment transfer is done from abroad, then it will be done in dollars. If it is done within Egypt, then it will be in Egyptian Pounds and the transfer must be made from the applicant’s personal account in which the required amount must be available 60 days before reserving a unit. • The selection process takes place 10 days after reservations are closed, and the unit is delivered after 3 months of the selection process. This process can be canceled if the buyer wishes, or if he is not committed to the specified time of receiving the unit, or when the purpose specified for purchasing the land plot is changed, or when the land is disposed of without taking the approval of the concerned authorities.
The payment plan in Beit Al-Watan is as follows:
• The price per square meter is determined in Egyptian Pounds, but the installments are paid in dollars depending on the average dollar price for the two weeks preceding the launch date or the date of paying the installments. • 25% of the unit value is paid as a down payment. • The remaining value will be paid in installments for five years. • The first installment will be paid within a month from the date of receiving the unit. • If the buyer pays the full amount of the unit immediately after the selection process, 7.5% of the unit value will be deducted.
You can reserve land plots or units and pay the installments online through the official website of the Urban Communities Authority.
Beit Al-Watan Project is considered one of the largest projects in Egypt, as it will bring in foreign currency and contribute to increasing national income and reviving the Egyptian economy. If you want to know more about this project or buy any unit, contact RE/MAX Egypt by calling 16088 or contact us here.