The New Urban Communities Authority (NUCA) has announced a new investment opportunity in New Fayoum City during November, offering a plot of land through the immediate allocation system. The plot is designated for administrative use, with an estimated total value of around EGP 77.1 million. This offering is part of the Authority’s ongoing plan to boost investment in new cities across Upper Egypt, particularly for plots smaller than five feddans.
The plot is strategically located in the city center, covering a total area of 10,000 square meters, and is offered at a price of EGP 7,710 per square meter. The building-to-land ratio is set at 40% of the total area, and the permitted height allows for a basement, a ground floor, and two repeated floors.
The setback requirements include 5 meters at the front and 4 meters on both sides and at the rear. In addition, parking spaces must be provided within the land boundaries, in compliance with the Egyptian Code for Garages.
According to the general terms, the final area is subject to adjustment based on the actual handover on-site, while adhering to the height restrictions imposed by the Armed Forces Operations Authority. The project implementation period is set at three years, starting from the date of land handover.
Regarding the payment system, investors are required to make an initial payment of 15% of the total land value in Egyptian pounds, which includes 5% as a reservation deposit and 10% to be paid within one month of allocation approval. Additional fees include 1% for administrative expenses and 0.5% for the Board of Trustees Fund.
The remaining balance will be divided into six equal semi-annual installments in Egyptian pounds, with the first installment due one year from the date of the allocation approval notice.
These installments will be subject to interest rates determined by the Central Bank of Egypt at the time of payment, in addition to extra fees of 2% as per the Ministry of Finance regulations and 0.5% as additional administrative costs.
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