The Badr City Development Authority has announced the auction of 3 commercial shops, each with an area of 32.5 square meters, and 17 administrative units ranging from 30 to 60 square meters, located in the large commercial market of the workers’ residential area in Phase 1 of the city.
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ToggleAuction Details:
- Terms and Conditions:
Interested parties can obtain the terms and specifications booklet from the Authority’s headquarters for a fee of EGP 299 per shop or pharmacy. - Auction Date:
The auction will be held on Wednesday, February 26, 2025, at 12:00 PM at the Authority’s headquarters. - Bid Security:
A refundable deposit of EGP 50,000 is required for each commercial unit, and EGP 25,000 for each administrative unit. The deposit must be paid by the auction date. - Payment Terms for Winning Bids:
- For each shop, the buyer must pay 10% of the final bid price, plus 1% administrative fees and 0.5% for the Board of Trustees immediately after the auction.
- For each administrative unit, the buyer must pay 25% of the final bid price, plus 1% administrative fees and 0.5% for the Board of Trustees upon auction completion.
- A 5% maintenance deposit is required to be paid within one month before delivery.
- The remaining amount can be paid via installments as per the buyer’s arrangement.
Site Inspection and Legal Framework:
- Site Visits:
Interested bidders may visit the properties for inspection during official working hours before the auction date. - Regulations:
The auction will follow the provisions of Law No. 182 of 2018, which governs public contracts and the regulations for agreements entered into by public authorities.
This auction provides a valuable opportunity for those interested in establishing businesses or administrative offices in a prime location within Badr City, with flexible payment options for successful bidders.