The Ministry of Housing, Utilities and Urban Communities, represented by the New Urban Communities Authority, has offered a commercial land plot in New Sphinx City during the month of November under the immediate allocation system for investors. The plot is located along the Sphinx Services Axis – First Sector, with an area of approximately 4,988 square meters, priced at EGP 15,050 per square meter, bringing the total cost to around EGP 75.2 million. Investors are required to pay a 10% reservation deposit as a sign of seriousness.
The Authority allows investors a maximum of three years to complete the project starting from the date the land is handed over. It is required to complete payment of 25% of the land’s value, which includes the previously paid 10%, along with an additional 15% to be paid within one month of receiving the allocation approval notice.
This amount also includes administrative fees of 1% and a 0.5% fee for the Board of Trustees. The remaining amount is to be paid over six equal semi-annual installments in Egyptian pounds, with financial interest calculated according to the Central Bank’s lending rate plus 2%, in accordance with Ministry of Finance regulations, in addition to a 0.5% administrative fee.
The construction conditions stipulate that building coverage must not exceed 40% of the total land area, with setbacks of 6 meters on all sides, and 12 meters if the plot is adjacent to a residential property. Construction is permitted for a basement, ground floor, and two upper floors only. Investors must also comply with Civil Defense requirements and building height regulations specified by the Armed Forces.
The location benefits from an existing water supply point, and permanent utility installations are planned for completion within 12 months. The Authority also requires the provision of designated parking spaces within the plot boundaries in accordance with the Egyptian Code for Garages. Inspecting the site before submitting the allocation request is considered final acceptance of the plot’s location and boundaries.
For the latest official land offerings and to browse thousands of residential properties across different cities, visit the Official Egyptian Real Estate Platform — your safe destination to find the right home for you and your family. You can also learn more about the features of Blu Vert in the New Administrative Capital.