The New Urban Communities Authority has announced the offering of a new investment plot in 15th of May City, located in Sub-Center 3. The land spans an area of 1,548 square meters and is designated for mixed-use commercial and residential activity. This plot represents a suitable investment opportunity for medium-sized companies and investors, as it falls under the category of small plots with an area less than 5 feddans. The price per square meter has been set at EGP 12,100, bringing the total estimated value of the land to approximately EGP 18.7 million.
To encourage investment, the minimum down payment (seriousness of reservation) has been set at 10% of the land’s total value, with payments to be completed up to 25% of the overall value. This first installment includes the 10% paid upon reservation, while the remaining 15% must be settled within one month of receiving the allocation approval notification from the Board of Directors.
Additionally, a 1% administrative fee and a 0.5% contribution to the Board of Trustees will be applied. The remaining land cost will be paid over six equal semi-annual installments in Egyptian pounds, with the first installment due six months after the down payment. Installments will accrue interest based on the Central Bank’s lending rate plus 2%, in accordance with Ministry of Finance regulations, in addition to a 0.5% administrative fee.
The Authority has set clear restrictions to ensure proper construction and optimal use of space. The building-to-land ratio may not exceed 30% of the total plot area, with setbacks of 5 meters at the front and 4 meters at the rear and sides. Construction approval includes a basement, a ground floor, and three repeated upper floors. The ground and first floors are allocated for commercial use, while the second and third floors are reserved for residential purposes.
To ensure convenience and safety, the investor is required to provide parking spaces within the plot boundaries in line with the Egyptian Garage Code and its amendments. Compliance with height restrictions set by the Armed Forces Operations Authority is also mandatory, in line with project regulations. The Authority has set a three-year period for project completion, starting from the date of land handover, with the actual area subject to verification by the city authority upon delivery.
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