In June, the New Urban Communities Authority (NUCA) announced a new investment opportunity in New Alamein City through the immediate allocation system. The offering includes a plot of land designated for an integrated urban development project. The land is located near roads C4 and M10 and spans an area of 151,200 square meters (approximately 36 feddans), with a set price of EGP 5,200 per square meter. This brings the total value of the plot to approximately EGP 786.2 million.
The development conditions emphasize a mix of land uses, with residential areas not exceeding 50% of the total plot, and service areas capped at 12%. The maximum building ratio for apartment buildings is 50%, while villas are limited to 40%, and townhouse models to 45%.
Construction permissions allow for apartment buildings up to a ground floor plus four additional floors, and villas up to a ground floor plus one floor. Service buildings can only cover up to 30% of their designated plots, with a maximum height of ground floor plus two floors. Investors are required to conduct a thorough site inspection, obtain all necessary approvals for their intended activity, and provide parking spaces in accordance with the Egyptian Building Code.
A reservation seriousness deposit of 10% is required, and this must be increased to 25% within one month of receiving approval notification. Additionally, investors must pay 1% in administrative fees and 0.5% to the Board of Trustees. The remaining balance of the land price will be paid in eight semi-annual installments, with the first installment due six months after the initial down payment. Financial charges will apply, based on the Central Bank of Egypt’s announced interest rate plus an additional 2%, as well as 0.5% administrative fees.
The project must be completed within four years from the issuance date of the first ministerial decree for planning and subdivision.