The New Urban Communities Authority (NUCA) has announced the offering of a land plot in 15th of May City designated for the establishment of a nursery inside the Dar Misr Compound. This opportunity comes as part of NUCA’s investment prospects for July, aimed at supporting educational and service-oriented activities and enhancing residential services in new cities.
The plot is located within the Dar Misr project, spanning an area of 1,860 square meters, offered at a price of EGP 7,905 per square meter, with payment required in Egyptian pounds. The plot is classified as a small-scale investment opportunity, requiring a 10% down payment to reserve the land.
Construction Conditions and Building Regulations
The construction regulations stipulate a building-to-land ratio of 30%, with setbacks of no less than 6 meters. The building is allowed to consist of a ground floor and one upper floor, designated for operating the nursery, in accordance with the terms set by the relevant authorities.
NUCA noted that the final area of the plot may be subject to change (increase or decrease) based on reports issued by the Survey Department of the competent city authority in 15th of May City. Investors will be granted a three-year implementation period starting from the date of land handover, giving them a clear and defined timeline to complete the project.
Payment Plan and Financial Details
The payment plan requires investors to pay 10% of the land value as a reservation deposit. An additional 15% must be paid within one month from the date of official notification of the Board of Directors’ approval, bringing the total down payment to 25%. Furthermore, an administrative fee of 1% and a 0.5% contribution to the Board of Trustees will be added. The final land price will be confirmed in coordination with NUCA’s Main Real Estate Committee.
The remaining 75% of the land value will be paid in six equal semi-annual installments, due in local currency, with the first installment due six months after the down payment is completed. The installments will include financial interest calculated based on the interest rate announced by the Central Bank of Egypt on the date of allocation notification, in addition to 2% according to Ministry of Finance regulations and an additional 0.5% administrative fee.
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