On Tuesday, a public auction was held in Sadat City to sell several commercial shops and administrative units across various locations. The auction, organized by the Sadat City Development Authority, aims to meet residents’ needs and enhance services in the city.
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ToggleAuction Overview
The event was chaired by Eng. Yasser Abdel Halim Hassan, Head of the Sadat City Development Authority, alongside Eng. Osama Mohamed Sayed Ali and Eng. Mohamed Hamdi Zahran, Deputy Heads of the Authority. Representatives from the State Council, the New Urban Communities Authority, and the Ministry of Finance, along with members of the auction committee, were also present to ensure transparency.
Results of the Auction:
- Commercial Shops:
- Sold Units: 9 shops with various activities.
- Sizes: Ranging from 11 to 78 square meters.
- Price per Square Meter: EGP 29,800 to EGP 300,000.
- Total Revenue: EGP 48,960,878.
- Administrative Units:
- Sold Units: 6 units.
- Sizes: Ranging from 60 to 120 square meters.
- Price per Square Meter: EGP 13,100 to EGP 20,000.
- Total Revenue: EGP 10,621,251.
Final Revenue:
The total proceeds from the auction amounted to EGP 59,582,129.
Development Goals for Sadat City
Eng. Yasser Abdel Halim emphasized that the auction aligns with the city’s strategy to provide diverse services and address residents’ needs. He also announced plans for an upcoming auction, furthering the city’s development goals.
About Sadat City
Sadat City, a first-generation city located in Menoufia Governorate, operates under the administrative jurisdiction of the New Urban Communities Authority. It is a new urban community with a focus on industrial, agricultural, and residential activities, aimed at fostering comprehensive development.