The Ministry of Housing, Utilities, and Urban Communities has offered a plot of land for sale in 15th of May City for mixed-use purposes—commercial, administrative, and residential. The plot spans an area of 1,660 square meters and is priced at EGP 12,750 per square meter, bringing the total value to approximately EGP 21.1 million. The execution period is set to three years from the date of land handover, with a maximum building coverage ratio of 30% and mandatory setbacks to ensure proper ventilation and natural lighting.
The regulations permit the construction of a building consisting of a basement, ground floor, and three upper floors. The ground and first floors are designated for commercial use, the second floor for administrative use, and the third floor for residential use. Adequate parking spaces must be provided according to the Egyptian Code, and height restrictions as specified by the Armed Forces Operations Authority must be observed. The final plot size will be confirmed based on measurements issued by the city authority’s Survey Department.
The developer is required to pay 25% of the land value in Egyptian pounds. Since 10% has already been paid, the remaining 15% must be paid within one month of receiving the approval notice. This amount includes 1% in administrative fees and 0.5% to the Board of Trustees. The final land price will be approved by the Real Estate Committee. The remaining amount will be paid in six semi-annual installments, with the first installment due six months after signing. All installments will be subject to interest based on the Central Bank’s announced rate, an additional 2% as per the Ministry of Finance’s directives, and 0.5% in administrative fees.
