The New Urban Communities Authority (NUCA) has announced the offering of a large land plot designated for integrated urban development in New Beni Suef City. The offering is part of the immediate allocation system for September and is located in the Fifth Neighborhood within District Eleven, along the southern transverse connection of the El-Kureimat Road, with the aim of boosting investments in Upper Egypt’s new cities.
The land spans an area of 83,900 square meters, priced at EGP 3,455 per square meter, bringing the total value to approximately EGP 289.8 million. The authority has set a three-year timeline for project completion, starting from the date of issuance of the ministerial decree related to the project.
The building requirements specify that the residential land allocation should not exceed 50% of the total plot area, with defined building ratios for each housing type. For instance, the building-to-land ratio for apartment buildings is capped at 50% of the residential area, while lower ratios are set for villas: 45% for semi-detached, townhouses, or quarter villas, and 40% for standalone villas.
As for building heights, apartment buildings are permitted a ground floor plus three upper floors, while villas are limited to a ground floor plus one upper floor, with the option of roof rooms provided they do not exceed 25% of the ground floor area. Additionally, between 8% and 12% of the total land area must be allocated to services, with service building ratios ranging between 10% and 30%, depending on the type of activity.
Regarding payment mechanisms, the system requires an advance payment of up to 25% of the land value in Egyptian pounds, starting with 10% already paid and an additional 15% to be completed within no more than 30 days from the notification of allocation approval. In addition, a 1% administrative fee and a 0.5% board of trustees fee are applied. The remaining balance is to be settled in six equal semi-annual installments, with the first installment due six months after the initial payment. Financial burdens are applied to the outstanding balance according to the interest rate announced by the Central Bank of Egypt at the due date, plus an additional 2% as per Ministry of Finance regulations, along with an extra 0.5% administrative fee.
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