The New Urban Communities Authority has announced a prime investment opportunity within the Dar Misr 2 project in the Third Settlement of New Cairo. The total value of the land is estimated at around 39.7 million Egyptian pounds, with a price of 28,120 EGP per square meter for an area of approximately 1,413 square meters. This step aims to support investment in the education sector and nursery services within the new urban cities.
The project includes a plot designated for the establishment of a children’s nursery as part of the investment lands that are less than 5 feddans in size. The building requirements allow for a construction ratio of up to 30% of the land area with a maximum height of a ground floor and an administrative first floor, while ensuring full compliance with Civil Defense requirements and the height restrictions set by the Armed Forces.
The land is offered under the immediate allocation system, where the investor bears full responsibility for site preparation, including obtaining approvals from relevant authorities and providing parking spaces in accordance with the Egyptian garage code. The investor is required to inspect the land before submitting the purchase application, and the submission is considered an acknowledgment of approval of the site and its area.
The execution terms specify a three-year period starting from the date of land handover. The payment mechanism requires an upfront payment of 25% of the land value in Egyptian pounds, of which 10% is pre-paid, while the remaining 15% must be paid within one month from the date of the Board of Directors’ approval of the allocation. An additional 1.5% will be applied as administrative and Board of Trustees fees.
The remaining land value is to be paid over six equal semi-annual installments in Egyptian pounds, with the first installment due six months after paying the down payment. Financial interest will be applied to the installments according to the interest rate announced by the Central Bank of Egypt, in addition to 1% for the Ministry of Finance and 0.5% administrative fees.
This initiative comes as part of the Authority’s efforts to boost investment in educational and service projects in New Cairo, contributing to the enhancement of educational infrastructure and the provision of high-quality services for children and the local community.
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