The New Urban Communities Authority (NUCA) has announced an investment opportunity by offering a commercial-use land plot for sale in New Assiut City. The plot is located specifically in the service center of the Third Neighborhood, within the Businessmen’s District. The land has an area of 765 square meters, with the contract price set at EGP 22,870 per square meter.
According to the available data, the construction conditions stipulate that the building coverage ratio for the commercial activity should not exceed 40% of the total land area. The approved building structure includes a basement, a ground floor, and two repeated upper floors, with a height restriction of 21 meters, as mandated by the Armed Forces Operations Authority.
The project must be completed within 3 years from the date of land handover. Additionally, the developer is required to provide designated parking spaces within the site boundaries in accordance with the Egyptian Code for Parking Garages. The developer must also adhere to all construction regulations and obtain the necessary approvals from the competent authorities. It is important to note that the land area is subject to change depending on the actual measurements at the time of delivery.
Payment Terms
As for the payment method, the purchasing company is required to complete the initial payment to reach 25% of the total land value, payable in Egyptian pounds. Of this, 10% has already been paid, and the remaining 15% must be paid within one month from the date the company is officially notified of the Board of Directors’ approval to allocate the land. Additionally, 1% is charged as administrative fees, along with a 0.5% contribution to the Board of Trustees.
The remaining land value is to be paid in six equal semi-annual installments, with the first installment due six months after the initial payment is completed. Financial charges will apply to the installments, calculated based on the interest rate announced by the Central Bank of Egypt at the time of notification and continuing until the payment date. An additional 2% surcharge is applied according to Ministry of Finance regulations, as well as 0.5% in administrative fees.
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