The New Urban Communities Authority (NUCA) has announced the availability of a distinguished investment opportunity for immediate allocation in the Tamar Henna area of the eastern extension of New Cairo. The total value of the land is estimated at approximately EGP 84.7 million, based on a square meter price of EGP 49,420 for a total plot size of 1,715 square meters during the month of October. This initiative comes as part of the Authority’s ongoing efforts to encourage commercial investment in new cities.
The opportunity involves a plot of land designated for commercial activity under the investment land category with an area less than 5 feddans. A building ratio of up to 40% of the total land area has been approved, with expectations for the development to include a ground floor plus two upper floors. Investors must comply with Civil Defense regulations as well as height restrictions set by the Armed Forces.
It was announced that the land is being offered under an immediate allocation system, with the investor bearing full responsibility for the land cost and project implementation requirements. This includes securing approvals from the relevant authorities and providing parking spaces in accordance with the Egyptian Garage Code. The investor is also required to conduct a full inspection of the plot before applying, as the submission of the application is considered a final approval of the land’s location and area.
The project implementation period has been set at three years starting from the date of land handover. The payment plan requires 25% of the land value to be paid in Egyptian pounds, with 10% paid upfront and an additional 15% to be settled within one month of the Board of Directors’ allocation approval. Administrative fees and Board of Trustees charges amounting to 1.5% will also apply.
The remaining land value will be paid over six equal semi-annual installments in Egyptian pounds, with the first installment due six months after the down payment. Financial charges will be calculated based on the interest rate announced by the Central Bank of Egypt, with an additional 1% as per Ministry of Finance directives and 0.5% allocated as administrative expenses.
This offering aligns with the strategic plan of the New Urban Communities Authority to support commercial activities and enhance the development of markets and commercial complexes within New Cairo, improving the infrastructure of such developments.
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