The New Urban Communities Authority (NUCA) has announced a new investment opportunity in June to establish a private school in 15th of May City. The opportunity involves a 5,500 square meter plot of land priced at EGP 9,465 per square meter, with a total estimated cost of approximately EGP 52,057,500.
The construction footprint must not exceed 30% of the total land area, with required setbacks of at least 6 meters on all sides. The permitted building height is up to a basement, a ground floor, and three repeated floors. However, the basement is not allowed to be used for classrooms or laboratories.
Compliance with the technical specifications of the General Authority for Educational Buildings is mandatory. This includes submitting all approved documentation and ensuring the availability of parking spaces as per the Egyptian code. Additionally, the land is subject to height restrictions set by the Armed Forces Operations Authority, and obtaining the necessary permits is required.
The project must be completed within five years from the date of land handover.
Payment Terms
Investors are required to complete 15% of the land value in Egyptian pounds. A 10% down payment has already been made, and the remaining 5% must be paid within one month of notification of approval by the Board of Directors. Additional charges include 1% for administrative fees and 0.5% for the Board of Trustees, calculated based on the final approved price.
The remaining balance of the land price is to be paid over 10 semi-annual installments. The first installment is due six months after the initial down payment. These installments will incur interest as per the Central Bank of Egypt rate, plus an additional 2% according to Ministry of Finance regulations, and 0.5% in administrative fees.
This opportunity presents an attractive educational investment in 15th of May City, aimed at those interested in establishing a modern school that caters to the growing needs of the community.