The New Urban Communities Authority (NUCA) has offered a plot of land for sale designated for integrated urban development in the city of New West Qena. The land spans an area of 34,977 square meters, priced at EGP 1,855 per square meter, totaling approximately EGP 64.8 million. The project’s execution period is up to 3 years from the date of issuance of the first ministerial decree.
The building regulations stipulate that the percentage of land allocated for residential use should not exceed 50% of the total area. Within this, apartment buildings may occupy up to 50% of their respective plots (with a maximum height of 4 floors), while villas may occupy up to 40% (with a maximum height of one floor).
For service-related areas, their share must range between 8% and 12% of the total project area. The building ratio and permissible height for each service activity will be determined separately in accordance with the requirements of the relevant authorities.
The individual or entity granted the land must obtain approvals from all concerned authorities and comply with any additional conditions imposed by the competent administrative bodies. Full adherence to the approved water usage regulations for the project is also mandatory.
Final plot measurements that show any surplus or shortage will be validated based on the final demarcation issued by the Survey Department of the city authority.
A payment of 15% of the land’s value in Egyptian pounds is required. Of this, 5% has already been paid, and 10% must be paid by the company within one month following the Board of Directors’ approval. Additionally, there is a 1% administrative fee and a 0.5% fee allocated to the Board of Trustees.
The remaining land value is to be paid over 6 equal semi-annual installments. The first installment is due one year after notification of approval, along with applicable interest. All installments will include financial charges based on the Central Bank interest rate, plus an additional 2% as per the Ministry of Finance’s guidelines and a 0.5% administrative fee.
