The New Urban Communities Authority (NUCA) has announced a new investment opportunity in New Cairo. The offering involves a land plot labeled B3, with a total area of 3,656 square meters, priced at EGP 46,435 per square meter. The total value of the land amounts to approximately EGP 169,707,160.
Investors are required to pay 10% of the total value as a reservation down payment, and an additional 25% within one month of receiving the approval notification. The remaining amount is to be paid in six semi-annual installments, which will be subject to interest based on the Central Bank of Egypt’s rates along with an additional 2% as per the Ministry of Finance’s instructions.
The building coverage ratio is limited to 30% of the total land area. Setback requirements include 5 meters at the front and 4 meters on the sides and rear. The allowed building height is basement + ground floor + 3 upper floors, with strict adherence to height regulations issued by the Armed Forces and Civil Defense requirements.
Provision of designated parking spaces in accordance with the Egyptian building code is mandatory. The investor is also required to conduct an on-site inspection of the land. Approval of the allocation is considered as an acknowledgment of the site and its terms.
The project must be completed within three years from the date the land is officially handed over. It is also noted that the plot area may be adjusted according to the measurements conducted by the city authority’s survey department.
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