The New Urban Communities Authority has offered a large land plot designated for integrated urban development in New Beni Suef City under the immediate allocation system during the current month. The land is located in the Fifth Neighborhood within the Eleventh District, along the southern cross link of the Al-Korimat Road, as part of the Authority’s strategy to enhance investments in Upper Egypt’s cities.
According to official sources, the land plot spans 83,900 square meters with a price of EGP 3,455 per square meter, bringing the total value to around EGP 289.8 million. The project is set to be completed within three years from the date of the ministerial approval.
The construction requirements stipulate that the residential portion should not exceed 50% of the total land area. The building-to-land ratio for apartment buildings is capped at 50% of the residential portion, while joint villas (twin, town, and quarter villas) are limited to 45%, and standalone villas to 40%.
Apartment buildings are permitted up to ground floor + 3 upper floors, while villas may be built at ground floor + 1 upper floor, with the option to add rooftop rooms not exceeding 25% of the ground floor area. Additionally, 8% to 12% of the total land area must be allocated for services, with construction ratios for these services ranging between 10% and 30%, depending on the activity type.
As for the payment system, investors are required to pay 25% of the land value in Egyptian pounds as an initial payment (including 10% already prepaid and 15% payable within 30 days of receiving the allocation approval notice). On top of that, 1% administrative fees and 0.5% for the Board of Trustees are applied. The remaining balance is to be settled in six equal installments paid semi-annually, with the first installment due six months after the down payment. Financial charges will be added to the installments based on the Central Bank’s announced interest rate at the time, along with an additional 2% per Ministry of Finance regulations and 0.5% supplementary administrative fees.
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