CityGate new launch: the price list and payment plan, row by row

The sales message that came with the price list states five things: a 5% down payment, a further 5% after 3 months, 10% upon delivery, equal instalments over 10 years, and 8% maintenance. It also gives delivery as 4 years. The three fixed payments add up to 20% of the price, so the part left for the 10-year instalments is 80%.

The table below gives the starting price of each of the eight rows and its 5% down payment in Egyptian pounds. The other items stay as percentages, as supplied: the message does not say whether instalments are monthly, quarterly or annual, so we publish no instalment amount and no monthly average. This is our arithmetic as an independent marketer, not a quotation from the developer, Qatari Diar.

One bedroom. The list has a single 1-bedroom row: 89 sqm with a 40 sqm garden, starting at EGP 9,870,000. Its down payment is EGP 493,500, and it is the lowest price on the list.

Two bedrooms. The 107 sqm typical-floor row starts at EGP 11,040,000 and the 116 sqm row at EGP 12,090,000. The ground-floor 107 sqm unit with a 26 sqm garden starts at EGP 11,830,000. The list does not price the garden separately. Down payments on the 2-bedroom rows run from EGP 552,000 to EGP 604,500.

Three bedrooms. Typical-floor rows are 138 sqm at EGP 14,080,000, 151 sqm at EGP 15,570,000 and 160 sqm at EGP 16,660,000. The ground-floor 160 sqm unit with a 76 sqm garden starts at EGP 19,030,000. Down payments on the 3-bedroom rows run from EGP 704,000 to EGP 951,500.

These are starting prices per size. Floor and position inside the launch may change the price of a specific unit, and sales confirm that unit by unit.

Maintenance is 8%, as stated in the sales sheet that came with the price list. The sheet gives the percentage only. It does not say what the 8% is calculated on or when it is due, so this page shows no pound amount for it.

The calculation basis and the due date are confirmed by sales for each unit. Ask for both in writing together with the payment schedule before you reserve.

Several points a buyer needs are not published in the material we hold. Ask and we confirm them with sales: the instalment frequency and the amount of each instalment; when the 10 years start and whether instalments continue after delivery; the date the 4-year delivery period is counted from; the basis and due date of the 8% maintenance; and the reservation amount and how it is credited against the down payment.

The message also gives no cash price, no alternative plans, no price difference by floor or view, and no floor plans. We do not fill those gaps with assumptions or with figures from other websites. The binding numbers are the ones on the reservation form and the contract issued for a named unit.

Start from the cash you can place in the first three months: that is 10% of the price, half as the down payment and half after 3 months. Then plan for the delivery payment, another 10%, which falls due upon delivery; the message gives delivery as 4 years. Finally ask for the instalment amount and frequency on the remaining 80% over 10 years, and add the maintenance once sales confirm its basis.

When you have narrowed it to one or two rows, ask for a schedule issued for the specific unit. It will show the real instalment dates and amounts, which is the only version that should be used for a decision.