The Badr City Development Authority has announced the offering of thirty commercial stores and one pharmacy for sale through a public auction. These units come in various sizes ranging from 14 to 63 square meters and are located within buildings in neighborhoods (1, 4, and 5) of the First District.
The Authority clarified that the auction session will be held on August 12th at 12:00 PM at the Authority’s headquarters. The process will follow the provisions of Law No. 182 of 2018, which regulates contracts concluded by public entities.
According to the announcement, the terms and conditions booklet is available for those interested in participating in the auction, at a cost of EGP 299 for each commercial store or pharmacy. The booklets can be obtained from the Authority’s headquarters during official working hours. The Authority set the auction entry deposit at EGP 100,000 for the pharmacy and EGP 50,000 for each commercial store, to be paid before the auction date.
As per the auction conditions, the winning bidder must immediately pay 10% of the sale value, in addition to 1% as administrative fees and 0.5% for the Board of Trustees. A maintenance deposit must also be paid within one month from the auction date and prior to receiving the unit. The remaining amount can be paid through flexible installment plans. The Authority has also made the units available for on-site inspection during official working hours for those interested in bidding.
This offering is part of the Badr City Development Authority’s ongoing efforts to enhance commercial and service activities in the city, providing diverse investment opportunities that meet residents’ needs and contribute to the development of existing residential neighborhoods.
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