The Ministry of Housing, represented by the New Urban Communities Authority, has announced the sale of a plot of land for a vehicle service and refueling station in New Minya City during October.
The plot spans an area of 2,367 square meters, with a price of EGP 9,305 per square meter, bringing the total value to approximately EGP 22 million. According to the Authority’s data, the development period for this plot is three years, with construction limited to no more than 20% of the total area. The allowed building height is restricted to a ground floor and a first floor for the administrative and commercial buildings, while maintenance and washing facilities are limited to a maximum height of 6 meters, adhering to the height restrictions imposed by the armed forces. Additionally, the buyer is required to obtain necessary approvals from relevant authorities.
The setback requirements for the plot are set at 10 meters from all sides, and the final area may be subject to slight adjustments as determined by the city’s survey department.
To complete the purchase, the buyer must pay 25% of the plot’s value in Egyptian pounds, with 10% already paid, and the remaining 15% to be paid within one month of receiving notification of the allocation approval by the Board of Directors. The buyer must also cover 1% administrative fees and 0.5% for the City Council.
The remaining balance will be paid in six equal semi-annual installments in Egyptian pounds, with the first installment due six months after the initial down payment. All installments will be subject to financial charges in accordance with the Central Bank of Egypt’s interest rate, plus an additional 2% as per the Ministry of Finance’s instructions and a 0.5% administrative fee.