The New Urban Communities Authority has announced the availability of two residential investment opportunities for small investors in New Alamein City during the month of November. The offerings fall under the “Small Investor” housing project and are available through the immediate allocation system. The proposal includes two adjacent land plots, each with an area of approximately 4,150 square meters, priced at 7,835 EGP per square meter, bringing the total value of each plot to around 32.5 million EGP, with a 10% reservation deposit required.
According to the construction requirements set by the Authority, 50% of each plot’s total area may be used for building. The design must include a basement (garage), a ground floor, five repeated floors, and rooftop service rooms not exceeding 25% of the ground floor area. It is also required to provide an electric elevator with a capacity of no less than 6 persons if the full permitted building height is applied.
Regarding building setbacks, the front setback must be at least 3 meters, while the side and rear setbacks must be no less than 4 meters, in full compliance with Civil Defense safety regulations and the height restrictions set by the Armed Forces.
The project execution period must not exceed three years from the date of receiving the land. As for the payment system, 25% of the land value must be paid, with a minimum of 10% paid as a down payment, and 15% payable within one month from the official allocation approval. An additional 1% administrative fee and 0.5% contribution to the Board of Trustees are also applicable.
The remaining value is to be paid in six equal semi-annual installments in Egyptian Pounds, with financial burdens added according to the interest rate announced by the Central Bank at the time of installment payment, along with an additional 2% as per Ministry of Finance instructions and 0.5% administrative expenses.
The Authority also clarified that the plot area may increase or decrease based on the final measurements conducted by the city’s Survey Department. The investor is required to personally inspect the land before submitting the reservation request, as the submission is considered final approval acknowledging full awareness of the plot’s condition and characteristics.
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