The New Urban Communities Authority (NUCA) has announced a new investment opportunity in the city of Hadayek October for the development of a padel court project within the Dar Misr compound. The land offered spans 1,750 square meters and will be granted under a 10-year right-of-use agreement with an annual fee of EGP 157,500, and an initial security deposit of EGP 15,750, which must be raised to 10% of the total usufruct value within 10 days of offer acceptance.
Construction on the land is limited to a maximum building ratio of 5% of the total area and must consist of lightweight, removable structures, such as a cafeteria and changing rooms, with ground-level only construction. The use of permanent construction materials is strictly prohibited. Investors must comply with civil defense, environmental, and related legal regulations, ensuring no disturbance to nearby residents and maintaining environmental cleanliness.
The investor is responsible for regular maintenance, paying dues to relevant authorities, and is not permitted to install any advertising signage without prior approval from the city’s administration. The city authority reserves the right to reclaim the site at any time, whether due to operational necessity, expiry of the usufruct period, or violation of terms. Should any violations be detected, the investor must bear the cost of their removal, and it is explicitly required that no harm is caused to adjacent land uses or existing infrastructure. Any damages incurred must be repaired at the company’s own expense.
As for the payment method, the annual usufruct value must be paid at the start of each year, with a one-month grace period. Beyond this period, additional financial charges will apply, based on the Central Bank of Egypt’s declared lending interest rate, plus administrative fees.
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