The New Sohag City Development Authority has announced the sale of 12 commercial shops via public auction. These shops range in size from 10 to 21 square meters, located in neighborhoods 3, 8, and 36 in the 735-acre and 455-acre zones within the city.
Interested parties can obtain the terms and specifications booklet from the Authority’s headquarters upon payment of a fee of 299 EGP per shop. The auction session will take place at 12:00 PM on Sunday, February 9, 2025, at the Authority’s headquarters.
A deposit of 50,000 EGP is required to enter the auction for each shop, payable by the day of the auction. Once the auction is concluded, the successful bidder must pay 10% of the total sale value, in addition to 1% administrative fees and 0.5% for the Board of Trustees, calculated from the total sale price.
A 5% maintenance deposit is required to be paid within one month and before taking possession of the shop. The remaining balance will be payable through convenient installment plans.
The Authority has also provided the option to visit the properties for inspection during official working hours for those interested in participating in the auction.
It is important to note that the auction is subject to the provisions of Law No. 182 of 2018, which governs the contracts concluded by public entities.