The Ministry of Housing has announced the availability of a plot of land designated for administrative use in Sheikh Zayed City, as part of its July investment offerings aimed at enhancing administrative services. The land spans 1,619 square meters and is priced at EGP 19,950 per square meter, with payment required in Egyptian pounds.
Interested investors are required to pay 10% as a reservation deposit, then increase the payment to 25% within one month of the allocation notice. Additional fees include 1% for administrative expenses and 0.5% for the Board of Trustees. The final land price will be determined by the Central Real Estate Committee.
The Housing Authority has set the maximum building footprint at 40% of the total plot area. Developers must adhere to setback regulations of 6 meters in the front and 5 meters at the sides and rear. Construction is permitted up to a basement, a ground floor, and two upper floors only. Compliance with civil defense regulations and height restrictions as determined by the Armed Forces Operations Authority is mandatory, provided these limits fall within the project’s zoning parameters.
The authority emphasized that the plot is fully prepared for development. The investor must allocate internal parking spaces within the property boundaries, in accordance with the Egyptian Code for Garages and its approved amendments. The final area of the plot will be determined based on field measurements conducted by the Authority’s Surveying Department, and actual on-site measurements will be the basis for billing.
The allocated entity is responsible for obtaining all necessary approvals from the relevant authorities and must commence project implementation within three years from the date of receiving the land.
Regarding payment terms, the remaining balance is to be paid in six equal semi-annual installments, also in Egyptian pounds. The first installment is due six months after the initial down payment. These installments will include the Central Bank’s declared interest rate at the time of the allocation approval notice, an additional 2% as per the Ministry of Finance’s instructions, and a 0.5% administrative surcharge.
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