The New Urban Communities Authority (NUCA) has announced the offering of an investment plot in New Aswan City, covering an area of 1,400 square meters. The plot is designated for mixed-use (commercial-residential) development, with a price of EGP 6,775 per square meter, bringing the total value to approximately EGP 9,485,000. The application requires a 5% reservation deposit, which increases to 15% upon allocation approval. Construction is permitted on 30% of the land, allowing for a ground floor and three residential floors, with adherence to specific building setbacks, height restrictions, and designated parking requirements.
Applicants are responsible for conducting a comprehensive due diligence site visit. Participation in the offering is considered as full and final acceptance of the location and project terms.
The approved companies will be granted a maximum implementation period of three years starting from the land handover date. The remaining land cost must be paid in six equal semi-annual installments in Egyptian pounds, beginning one year from the date the company is notified of allocation approval. Interest will be applied based on the prevailing rate announced by the Central Bank of Egypt at that time. Companies are also responsible for paying administrative fees and contributions to the Board of Trustees, based on specified rates (1% + 0.5%), in addition to 1% in accordance with the Ministry of Finance’s instructions.
It is worth noting that the Authority offers a 5% discount on the land value—no less than the cost of infrastructure—for companies that complete and fully operate the project at least one year ahead of the original implementation deadline.