The Ministry of Housing, Utilities, and Urban Communities has announced the offering of a land plot for sale in the Green Belt area of 6th of October City during the current month of April. The land will be available through the immediate allocation system.
According to the information obtained, the plot extends over an area of 102,438 square meters, priced at EGP 5,675 per square meter, bringing the total price to approximately EGP 581.3 million, with a project implementation period of up to three years.
The authority indicated that the building ratio must not exceed 15% of the total land area, and this percentage includes all components of the project, such as housing and services. For smaller residential plots, the building ratio must not exceed 40% for standalone villas, and 45% for twin houses, semi-detached villas, residential prototypes, and quadruplex villas. However, the total of all individual ratios within the project must not exceed the prescribed overall 15%.
Construction is permitted up to a height of one ground floor plus one additional floor only, with strict adherence to civil defense regulations and the height restrictions set by the Armed Forces for the area.
The payment must reach 25% of the land’s total value in Egyptian pounds, with 10% already paid. The remaining 15% must be settled within one month from the date of notification of the 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. The transaction will proceed based on the final price approved by the Main Real Estate Committee.
As for the remainder of the land price, it will be paid over six equal semi-annual installments in Egyptian pounds. The first installment will be due six months from the date of payment of the initial deposit. All installments will bear the applicable financial burdens based on the interest rate announced by the Central Bank of Egypt on the date of the board’s approval notification, up until the date of payment, in addition to 2% as per the Ministry of Finance’s directives and 0.5% in administrative fees.
