The New Urban Communities Authority (NUCA) has announced the offering of an investment land plot in New Qena designated for multiple activities, including commercial, administrative, hotel, and recreational purposes. The offering comes as part of the Authority’s investment plans for the current month of September.
The land extends over an area of 6,447 square meters, equivalent to approximately 1.5 feddans, at a contractual price of EGP 9,545 per square meter, bringing the total value to around EGP 61.5 million. The Authority specified that the project must be implemented within three years starting from the date of land handover.
According to the building conditions, the construction ratio may not exceed 30% of the total plot area, with permission to build structures consisting of a basement, ground floor, and three repeated floors. Developers must also adhere to setback requirements: 5 meters at the front and 4 meters at the sides and rear. Furthermore, the project must comply with height restrictions issued by the Armed Forces Operations Authority and provide parking spaces in line with the Egyptian Garage Code requirements.
As for the payment mechanism, 25% of the land value must be paid upfront—after a 10% down payment is made in advance as a booking deposit. An additional 15% must be settled within 30 days of receiving the allocation approval notice. This payment includes 1% administrative fees and 0.5% fees for the Board of Trustees. The remaining land value is to be paid in six equal semi-annual installments, with the first installment due six months after the down payment. These installments will be subject to the Central Bank of Egypt’s announced interest rate plus 2%, as per Ministry of Finance guidelines, in addition to 0.5% extra administrative fees.
For the latest official offerings and to browse thousands of residential properties across different cities, visit the Official Egyptian Real Estate Platform—your trusted destination to find the right unit for you and your family. Learn more about the features of the Al Fustat North Coast project.