The New Urban Communities Authority (NUCA) has announced the sale of two warehouse plots, excluding pharmaceutical and food storage, in the logistics warehouse area of New October City. The sale, conducted through the immediate allocation system, is part of the state’s land offering strategy initiated in March 2019.
The first plot spans 13,119 square meters with a total price of approximately EGP 22.3 million, while the second plot covers 8,929 square meters with a total value of EGP 14.6 million. The price per square meter for both opportunities is set at EGP 1,700.
The development period for these plots extends to three years from the date of land handover. The permissible building coverage is up to 65% of the total land area, with height restrictions of ground level plus three floors.
Regarding payment terms, buyers are required to complete 15% of the total land value in Egyptian pounds (5% already paid and an additional 10% due within one month of receiving the board’s approval for allocation). Additional costs include a 1% administrative fee and a 0.5% trustee board fee, both based on the final approved price.
The remaining balance will be payable over six equal semi-annual installments, with the first installment due one year after the board’s approval. This is conditional upon the issuance of the ministerial decision or license (whichever comes first) during the grace period. Interest will be applied to the installments, in line with the Central Bank of Egypt’s rates at the time of payment, plus a 1% fee as per Ministry of Finance regulations and a 0.5% administrative fee.
