Executing the directives of Engineer Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities, to accelerate urban development rates and attract private sector investments, Engineer Mohamed Abdel Maqsoud, Head of the New October City Development Authority, and Engineer Amal Mamdouh, Deputy Head of the Authority, announced the launch of a distinguished package of investment land plots designated for service, production, and commercial activities for June 2026.

Engineer Mohamed Abdel Maqsoud stated that the offering aims to meet the growing demand for services and keep pace with the city’s rapid construction boom. The offered land plots include:

First (Commercial/Administrative): Plot No. (43) in Sector (A), located in the promising West Airport area, with a total area of 6,664 square meters and an approved estimated price of EGP 11,980 per square meter.

Second (Nursery Activity): Plot No. (5) in the “Build Your Home 6” area, First District – Sector (B), covering an area of 1,200 square meters.

Third (Commercial Activity): Plot No. (13) in the “Build Your Home 6” area, Fifth District – Sector (C), with a total area of 981 square meters.

Engineer Mohamed Abdel Maqsoud confirmed that the implementation period for the projects has been set at three years starting from the date of land handover. The financial facilities include:

• Contract Down Payment: Completion of 15% of the land value in Egyptian pounds, including 5% as the reservation deposit and 10% payable within one month from the allocation notification, in addition to 1% administrative fees and 0.5% Board of Trustees fees.
• Remaining Land Price (85%): Payable in six equal semi-annual installments, with the first installment due one year after the allocation notification date.
• Financial Charges: Installments will bear the interest rate announced by the Central Bank of Egypt at the time of payment, in addition to 2% in accordance with the Ministry of Finance’s instructions and 0.5% administrative fees.

Engineer Amal Mamdouh, Deputy Head of the Authority, explained that the total area of the offered land plots is subject to increase or decrease, with the actual delivered area serving as the basis for calculation.

She also emphasized that the submission of bids by companies constitutes an official acknowledgment that they have fully inspected the site and are completely aware of its conditions.