Cairo – The New Urban Communities Authority (NUCA) has announced the sale of a large land parcel in Sadat City this October. The land, designated for comprehensive urban development, covers an area of 113,400 square meters and is priced at EGP 3,215 per square meter, with a total value of approximately EGP 366 million. The sale will be executed through the immediate allocation mechanism.
According to NUCA’s guidelines, the development of this land must be completed within four years from the issuance of the first ministerial decree. The building percentages for the land include a maximum of 50% for residential apartments and 45% for villas. The regulations allow apartment buildings to rise to a ground floor plus three additional floors, while villas are permitted to be built up to a ground floor and one upper level.
Payment Terms: To secure the land, buyers must pay up to 25% of the land value in Egyptian pounds, with an initial 10% already paid. The remaining 15% must be settled within one month of receiving the board’s approval. Additionally, a 1% administrative fee and 0.5% fee for the trustees council are required. The final price will be determined by the main real estate committee.
The remaining amount is to be paid over eight equal semi-annual installments, with the first due six months after the down payment is made. All installments will be subject to financial charges based on the Central Bank of Egypt’s interest rate at the time of the board’s approval, along with an additional 1% as per Ministry of Finance regulations and a 0.5% administrative fee.
This offering presents a significant opportunity for developers to participate in Egypt’s expanding urban projects.
