The Ministry of Housing has announced the offering of a land plot designated for university activity in the southern part of the Knowledge Village in 10th of Ramadan City. The plot spans an area of 137,265 square meters, with a price of EGP 2,775 per square meter, totaling EGP 381 million. The development period extends up to 10 years, with a building coverage ratio not exceeding 17%, and construction is allowed for a basement, a ground floor, and two repeated floors. Developers must comply with civil defense requirements and obtain the necessary approvals.
The Ministry of Housing clarified that the final plot area is calculated based on actual handover and according to the demarcation issued by the City Authority’s Survey Department. Applicants must inspect the land prior to application and will not be allowed to raise objections afterward. A written commitment to all financial and real estate regulations set by the New Urban Communities Authority is also required.
Financial Terms for the Sale of 137,265 Square Meters in 10th of Ramadan
The Ministry of Housing indicated that the applicant is required to pay 15% of the total land value, where 10% has already been paid in advance. The remaining 5% must be paid within one month of the authority’s approval notification. Additionally, the applicant must pay 1% as administrative expenses and 0.5% to the Board of Trustees.
As for the remaining land value, it is to be paid over 20 semi-annual installments, with the first installment due six months after the down payment. These installments will incur financial burdens calculated based on the Central Bank of Egypt’s announced interest rate, in addition to 1% administrative fees and 0.5% for other charges.