The New Urban Communities Authority has announced a new investment opportunity for the establishment of a nursery in Sheikh Zayed City, specifically located in the Fifth District, Second Neighborhood, with a total area of 1,017 square meters. The price per square meter has been set at EGP 18,105, bringing the total land value to approximately EGP 18.4 million. The allocation process will follow the immediate allocation mechanism and remains open during the month of October.
The Authority has outlined a set of conditions for this land plot, stating that the built-up area must not exceed 30% of the total land area. Construction is limited to a ground floor plus a first floor, which should be dedicated to administrative functions related to the nursery. All civil defense requirements and height restrictions set by the Armed Forces Operations Authority must also be strictly observed.
It is also required to allocate internal parking spaces within the land boundaries in accordance with the Egyptian garage code, with the final layout to be approved through coordination with the surveying department of the concerned authority.
The execution period has been set at three years starting from the date of land handover. The investor is obligated to pay 25% of the land value within one month from the date of the approval notice issued by the Board of Directors. The remaining amount is to be paid over six equal semi-annual installments in Egyptian pounds. Financial interest applies based on the Central Bank of Egypt’s official interest rate, in addition to 2% Ministry of Finance fees and 0.5% administrative expenses.
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