The New Urban Communities Authority (NUCA) has announced an investment opportunity in May, offering a plot of land in New Aswan City for commercial, administrative, and residential use. The land covers an area of 2,000 square meters and is priced at EGP 6,160 per square meter, bringing the total value to approximately EGP 12.3 million. A down payment of 5% is required as a reservation deposit. This opportunity falls under the category of investment plots less than 5 feddans. Building conditions include a maximum building ratio of 30% and a height limit of ground floor plus three upper floors. Usage must be distributed across commercial, administrative, and residential purposes over two floors, with specific building setbacks required.
The Authority emphasized compliance with Civil Defense requirements and the Egyptian parking code. Adequate parking spaces must be provided. It was also noted that the final plot area will be determined on-site by the Survey Department, and that a site visit by the applicant is considered an official acceptance of the land’s location.
Regarding the payment mechanism, 15% of the total amount must be paid within one month of being notified of the Board of Directors’ approval. This includes the 5% already paid and an additional 10% to be settled by the company, along with 1% administrative fees and 0.5% for the Board of Trustees. The remaining balance will be paid in six semi-annual installments, with the first installment due one year after notification of the Authority’s approval. A ministerial decree or construction license must be obtained within the grace period, and interest must be paid in accordance with the Central Bank of Egypt’s announced rate.
The Authority has also offered an incentive to serious developers by approving a 5% discount on the land’s value, provided that this amount is not less than the cost of infrastructure. This applies to companies that complete and fully operate the project at least one year before the original three-year deadline from the land handover date. This move is part of NUCA’s commitment to promoting service and residential investments in New Aswan City and encouraging integrated urban development in Upper Egypt through flexible and developer-friendly mechanisms.
