The New Urban Communities Authority (NUCA) announced in November the offering of a new land plot in New Mallawi City, located in Minya Governorate, under the immediate allocation mechanism.
The land covers an area of 236,194 square meters, designated for integrated urban development, with a total value of approximately EGP 439.3 million and a price of EGP 1,860 per square meter. This initiative comes as part of NUCA’s ongoing efforts to support comprehensive urban development across Upper Egypt’s new cities.
The offered plot, No. 10, is located in Neighborhood No. 70, and is classified among investment opportunities exceeding five acres, with land areas ranging between 50 and 200 acres.
NUCA has set specific urban planning requirements for this land, including that residential areas must not exceed 50% of the total land area, and the building ratio must not exceed 50% of the residential portion.
Construction is permitted for apartment buildings up to a ground floor plus five upper floors, while villas are limited to a ground floor and one upper floor. The building ratios are set at 45% for twin, town, or quarter villas, and 40% for detached villas.
Regarding service areas, the share of land allocated for services should range between 8% and 12% of the total area, with a maximum building height of a ground floor plus five floors.
A setback distance of at least 10 meters must be maintained along the project boundaries, and car parking spaces must be provided within the land limits in accordance with the Egyptian Garage Code, while also adhering to height restrictions set by the Armed Forces Operations Authority.
The project execution period is set at five years, starting from the date of issuance of the first ministerial decree. The investor must obtain the necessary approvals from relevant authorities and visit the site before submitting an allocation request.
As for the payment system, investors are required to pay a minimum of 10% of the total land value, including 5% as a reservation deposit and 5% within one month of the allocation approval notice. In addition, 1% is charged as administrative fees, and 0.5% goes to the Board of Trustees Fund.
The remaining amount is payable in ten equal semi-annual installments, with the first installment due one year after the allocation approval, provided that the ministerial decree or building permit is issued within the specified timeframe. Interest is applied at the Central Bank of Egypt’s announced rate at the time of payment, plus an additional 2% according to Ministry of Finance regulations, and 0.5% administrative expenses.
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