Engineer Mahmoud Morad, Head of the New Obour City Development Authority, stated that the offering comes within the framework of the state’s ongoing efforts to stimulate economic activity and strengthen the investment environment in new cities.
The initiative also aligns with the vision of Engineer Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities, which focuses on broadening the investment base and creating diverse opportunities for investors and entrepreneurs to support the growth and development of new urban communities.
In this context, Engineer Mahmoud Morad announced the launch of a public auction for the sale of a selection of commercial, administrative, and professional units.
June 10 Auction to Include 10 Commercial Shops, 11 Administrative Units, and a Pharmacy
The Head of the Authority explained that the new offering features 10 commercial shops and one pharmacy, with unit sizes ranging from 14 to 100 square meters. It also includes 11 administrative and professional units with areas between 35 and 97 square meters.
The variety of spaces is intended to accommodate different investment and service activities while providing attractive opportunities for entrepreneurs seeking to establish new ventures or expand existing operations.
He noted that the units are strategically located across several prime areas of the city, increasing their investment appeal and offering investors strong prospects for achieving rewarding returns. This is particularly significant given the rapid urban growth and ongoing expansion of residential, commercial, and service facilities in New Obour City.
He further indicated that the public auction session is scheduled to take place on Wednesday, June 10, 2026, at 12:00 noon at the headquarters of the New Obour City Development Authority, in accordance with the approved procedures and regulations governing public auctions.
Comprehensive Strategy to Encourage Economic Growth
The authority stressed that this offering forms part of a broader strategy aimed at stimulating economic activity, attracting additional investments, and creating a business-friendly environment. These efforts support sustainable development objectives and contribute to increasing the investment value of projects throughout the city.
The City Authority also called on interested investors and participants to visit its headquarters during official working hours to obtain the terms and specifications booklet, inspect the available units on-site, and take advantage of the flexible payment and installment options provided, helping them secure the most suitable investment opportunities.