The New Urban Communities Authority (NUCA) has announced the offering of an investment land plot in 6th of October City under the immediate allocation system. The land is located in the Third Sector Services Center within the Eastern Expansions. The offered land covers an area of approximately 10,683 square meters, with the price set at EGP 23,180 per square meter, bringing the total land value to around EGP 247.7 million.
This land has been allocated for the establishment of a commercial and administrative project. The construction regulations stipulate a maximum building ratio of 40% of the total land area, with mandatory setbacks of 6 meters from the front, rear, and side boundaries. The allowed construction is limited to a ground floor plus two upper floors. Additionally, the project must comply with the requirements of the Civil Defense Authority and the Civil Aviation Authority.
The investor is required to provide designated parking spaces within the boundaries of the land in accordance with the Egyptian Code for Garages and its amendments. Moreover, the project must adhere to the height restrictions set by the Armed Forces Operations Authority. The project is to be completed within a maximum of three years from the date of land handover.
Regarding payment terms, NUCA clarified that 25% of the land value must be paid upfront. Out of this amount, 10% has already been paid in advance, while an additional 15% must be settled within one month of receiving the approval notification, along with 1% in administrative fees and 0.5% for the Board of Trustees.
The remaining value is to be paid over six equal semi-annual installments, with the first installment due six months after the down payment. Financial burdens will apply based on the interest rate set by the Central Bank of Egypt, plus an additional 2% as per the Ministry of Finance regulations, along with 0.5% in extra administrative fees.
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