The New Urban Communities Authority has announced the offering of a plot of land designated for educational use (a school) in the Desert Basin area of the Green Belt in 6th of October City. This offering is part of the immediate allocation mechanism during the current month of May.
The plot has an area of 10,189 square meters, priced at EGP 16,315 per square meter, bringing the total estimated land price to approximately EGP 166,233,535. This land is considered one of the investment opportunities with an area of less than 5 feddans. The reservation seriousness fee is set at 10%, which must be increased to 15% within one month from the date of the company being notified of the allocation approval, in addition to a 1% administrative fee and 0.5% to the Board of Trustees.
From a planning perspective, the building footprint must not exceed 30% of the total land area, with a setback of 6 meters required on all sides. The allowed building height is ground floor plus two upper floors, and all construction must comply with Civil Defense requirements and height restrictions imposed by the Armed Forces.
The project implementation period is five years starting from the land handover date. The remaining land value will be paid in ten equal semi-annual installments, with the first installment due six months after the down payment. Financial burdens will be added to the installments according to the interest rate announced by the Central Bank at the time of allocation approval notification, along with an additional 1% as per Ministry of Finance instructions and 0.5% as administrative fees.
