The New Urban Communities Authority (NUCA) has announced a new investment opportunity in 15th of May City, involving a land plot with an area of 900 square meters designated for mixed-use (commercial-residential) purposes. The price per square meter is EGP 9,495, bringing the total value to approximately EGP 8,545,500. This plot is considered a small-scale investment opportunity (less than 5 feddans), with a 10% earnest payment required to reserve it. The company must pay an additional 15% within one month of allocation approval, bringing the total upfront payment to 25%, in addition to 1% in administrative fees and 0.5% for the Board of Trustees.
The authority requires that the building coverage ratio does not exceed 30% of the land area, with setbacks of 5 meters from the front and 4 meters from the sides and rear. A building of basement, ground floor, and three upper floors is permitted. The ground and first floors are designated for commercial use, while the second and third floors are designated for residential use. The developer must comply with height restrictions set by the Armed Forces Operations Authority and provide adequate parking spaces in accordance with the Egyptian Building Code. The project implementation period is three years, with the land value to be paid in six semi-annual installments. The first installment is due six months after the initial down payment, and includes interest calculated based on the Central Bank of Egypt rate, in addition to 2% as per Ministry of Finance guidelines and 0.5% as administrative expenses.
