The New Urban Communities Authority (NUCA) has announced the offering of a 3,537-square-meter plot of land designated for a car service and fueling station in the Fifth Residential District (R5) of the New Administrative Capital. The price is set at EGP 19,690 per square meter, bringing the total cost to approximately EGP 69,643,530. To reserve the plot, 10% of the total value must be paid upfront, followed by 25% within one month of approval. The building coverage ratio is limited to 20%, with a 10-meter setback. A two-story building is permitted for administrative and commercial use, while maintenance buildings must not exceed 6 meters in height. The architectural style must adhere to the approved design standards.
The project execution period is three years from the date of land handover. After the initial 25% payment, the remaining amount is to be paid in six equal semi-annual installments, which include financial burdens such as the Central Bank interest rate, 1% per the Ministry of Finance’s instructions, and 0.5% administrative fees.
In March 2019, NUCA established new regulations to organize the immediate allocation mechanism, setting conditions for booking service and investment-related activities. These include submitting an accepted check covering 10% of the land value. Applications for booking can be submitted during the first half of each month and must include proof of financial capability for the project.
The Authority’s Board of Directors has decided to amend the procedures for offering investment opportunities in new cities. Under the new system, the seriousness payment will be calculated based on the Authority’s announced price, rather than the company’s offered price. It was also emphasized that the down payment must be made in Egyptian pounds via bank transfer. Companies are now required to include an additional price per square meter in their financial offers. The amendments also introduce the possibility of an electronic ranking system to select the winning offer. Developers will be required to pay the difference in the seriousness payment if the final price is higher than the announced one. The seriousness payment ranges between 5% and 10% of the total value.
