The Ministry of Housing, Utilities, and Urban Communities has announced the offering of a land plot designated for medical activity in the Al-Nargis area, located in the eastern part of 15th of May City. The land spans approximately 1,120 square meters, with a contractual price of 7,215 EGP per square meter, making the estimated total cost around 8,080,800 EGP.
The terms specify that the building-to-land ratio must not exceed 40%, and the construction is allowed up to a basement + ground floor + two upper floors. The project must be submitted to the relevant engineering review committee and must adhere to the regulations of the Ministry of Health, Ministry of Environment, and Civil Defense Authority, including the provision of adequate parking spaces.
The plot is subject to height restrictions imposed by the Armed Forces Operations Authority, and all construction must comply with official building codes. The specified land area may be subject to change, and the implementation period is three years from the date of land handover.
Payment Terms:
The payment mechanism requires the buyer to pay 15% of the total land value in Egyptian pounds, with 10% already paid as a down payment, and the company must commit to paying an additional 5% within one month of receiving the approval notification. An additional 1% administrative fee and 0.5% for the Board of Trustees are added to the final approved price.
The remaining land price is to be paid in 6 equal semi-annual installments, in Egyptian pounds. The first installment is due six months after the down payment, and each installment is subject to interest rates set by the Central Bank of Egypt, in addition to 2% per the Ministry of Finance and 0.5% in administrative expenses.
This offering presents a significant opportunity to establish a high-quality medical project in a promising and growing residential area.