The New Urban Communities Authority (NUCA) has announced the offering of a plot of land designated for a sports club in the Third Residential District (R3) of the New Administrative Capital. The land will be allocated under the immediate allocation system during March.
According to the available information, the land covers an area of 59,420 square meters and is priced at 10,005 EGP per square meter. This brings the total value to approximately 594 million EGP, with an implementation period extending up to five years.
The authority clarified that the building ratio should not exceed 7% of the total land area. The permitted height includes a basement, a ground floor, and a first floor for the social building or service facilities.
Regarding the payment mechanism, 15% of the land’s value must be completed in Egyptian pounds. A 10% down payment has already been made, while the remaining 5% must be paid within 30 days from the notification of the NUCA Board of Directors’ approval of the allocation. Additionally, 1% will be charged as administrative fees, and 0.5% will go to the Board of Trustees, adhering to the final price approved by the Main Real Estate Committee.
The remaining balance of the land price will be paid over 10 equal semi-annual installments in Egyptian pounds, with the first installment due six months after the down payment.