The New Urban Communities Authority (NUCA) has announced the offering of a land plot designated for educational purposes in New Obour City, intended for the establishment of a school. The land is being offered under the direct allocation system for investors interested in private education projects within new cities. The plot is located in the Regional Services Zone on the Cairo–Ismailia Desert Road, giving it a strategic location that will serve the residents of the surrounding area.
The plot covers an area of 14,084 square meters, with a price of EGP 9,485 per square meter, bringing the total value to approximately EGP 133.6 million. NUCA has set a project execution period of five years, starting from the date of land handover.
The offering includes a set of building regulations, such as a maximum building ratio of 30% of the total land area, with permitted heights of (basement + ground floor + three repeated floors). Applicants are also required to comply with setback rules of no less than 6 meters on the front, sides, and rear. Additionally, approvals from all relevant authorities must be obtained, including civil defense requirements and height restrictions as set by the Armed Forces.
Regarding the payment system, investors must complete payments up to 15% of the land’s value in Egyptian pounds (10% upon application and 5% within 30 days of the allocation approval notice). An additional 1% will be charged as administrative fees and 0.5% for the benefit of the Board of Trustees.
The remaining balance of the land price will be paid in ten equal semi-annual installments, with the first installment due six months after the down payment. These installments will accrue interest based on the rates announced by the Central Bank of Egypt until the date of payment, in addition to 2% as directed by the Ministry of Finance and an extra 0.5% in administrative fees.
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