The City Development Authority of Hadayek October has announced the auction of eight commercial markets, offering various activities and locations, under a license-for-use system for a 10-year period. The auction will take place on Sunday, February 5, 2025, at 12:00 PM at the Authority’s headquarters.
Auction Details
- Tender Booklet:
Interested parties can obtain the terms and specifications booklet from the Authority’s headquarters for a fee of EGP 699 per shop or pharmacy. - Bid Security:
A refundable deposit of EGP 500,000 must be paid by the auction date to participate. - Payment Terms for Winning Bids:
- 10% of the total value for the first three years must be paid immediately as a security deposit, valid throughout the contract period. This deposit must be renewed every three years or before the start of the remaining period.
- Additional fees include a 1% administrative fee and 0.5% for the Board of Trustees, based on the total auctioned value.
Site Inspection and Legal Framework
- Site Visits:
Potential bidders can inspect the locations during official working hours prior to the auction. - Regulations:
The auction will be conducted in accordance with Law No. 182 of 2018, governing public contracts.
This auction represents a valuable opportunity for businesses seeking to establish a presence in key locations within Hadayek October while benefiting from the competitive bidding process.