The New Urban Communities Authority (NUCA) has announced the offering of a new plot of land in New Obour City this November for the purpose of establishing a university under the immediate allocation system, with an estimated value of approximately EGP 302 million. This initiative comes as part of the Authority’s broader plans to enhance educational infrastructure in Egypt’s new cities and attract more investment into the higher education sector.
The plot, identified as No. 38, is located in the Regional Services Area along the Cairo–Ismailia Desert Road. It spans an area of 63,732 square meters, with a price of EGP 4,745 per square meter. The Authority has set several construction requirements for the project, including a maximum building ratio of 22% of the total land area. The design allows for structures with a basement, ground floor, and two upper floors, while maintaining 10-meter setbacks on the front, rear, and sides of the property.
Among other key conditions, the investor must provide designated parking areas that comply with the Egyptian Code for Garages and adhere strictly to height restrictions set by the Armed Forces Operations Authority. Additionally, all necessary approvals must be obtained from the relevant authorities before construction begins. It is also noted that the final plot area may be subject to slight adjustments based on the official land survey conducted by the Authority’s surveying department.
The investor is granted a seven-year period to complete the project starting from the date of land handover. Regarding the payment plan, the investor must pay 15% of the land’s total value as a seriousness deposit — consisting of a 10% down payment and an additional 5% to be paid within one month of the allocation notification. Furthermore, an administrative fee of 1% and 0.5% for the Board of Trustees are also required.
The remaining balance will be divided into 14 equal semi-annual installments, payable in Egyptian pounds. The first installment will be due six months after the down payment date. Financial burdens will apply to these installments, including the interest rate announced by the Central Bank of Egypt at the time of payment, plus an additional 2% as directed by the Ministry of Finance, along with 0.5% in administrative fees.
All these measures are designed to attract new investments and support the establishment of major educational projects, which play a vital role in the development of the academic sector within Egypt’s new urban communities.
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