The Ministry of Housing, Utilities, and Urban Communities has announced the offering of a plot of land for sale for commercial and administrative use in the First Settlement of Cairo. The land spans an area of 3,746 square meters, priced at EGP 46,755 per square meter, totaling EGP 175.1 million. The development period extends up to three years and is subject to specific planning and architectural conditions, including a building ratio of 30% and a mandatory 6-meter setback from all sides. Construction is permitted up to a ground floor plus three upper floors, with strict adherence to civil defense regulations and height restrictions imposed by the Armed Forces.
The land includes an existing electrical distributor that must be relocated at the owner’s expense, in coordination with the North Cairo Electricity Distribution Company and the city authority, with a proposed alternative site that complies with technical requirements. The actual land area will be finalized based on on-ground delivery as determined by the Survey Department, whose decision will be binding. The owner is also required to provide designated parking spaces in accordance with the Egyptian garage code. The applicant bears full responsibility for inspecting the site, and submitting a proposal is considered a final acceptance of the location and its conditions, with no liability on the part of the offering authority.
The initial payment for the land is set at 25% of its total price in Egyptian pounds. Of this, 10% has already been paid, and the company is obligated to pay the remaining 15% within one month of the board’s approval, in addition to 1% in administrative fees and 0.5% to the Board of Trustees. The remaining amount will be paid in six equal semi-annual installments, with the first installment due six months after the initial payment. Financial burdens will be calculated according to the interest rate announced by the Central Bank of Egypt, along with 1% as per the Ministry of Finance’s guidelines and 0.5% in administrative expenses.