This October, the New Urban Communities Authority offered a distinct investment opportunity to establish a school in the Fifth Residential District (R5) of the New Administrative Capital. This initiative is part of the Authority’s plan to support small projects, with an area of less than five feddans, through the mechanism of immediate land allocation. The aim is to enhance the city’s educational infrastructure and provide modern, well-equipped schools to serve the residents of the New Administrative Capital.
According to the published information, the offered land area is 13,750 square meters, priced at 18,430 EGP per meter. This brings its total approximate value to around 253.2 million EGP. The building requirements stipulate that the built-up area should not exceed 30% of the land area, with a permitted height allowing for the construction of a basement, a ground floor, and three repeated floors.
The project must comply with the conditions set by the General Authority for Educational Buildings and the height restrictions of the Armed Forces. Additionally, it must provide designated car parking spaces according to the Egyptian Garage Code, with a complete prohibition on establishing classrooms or laboratories in the basement.
The project’s implementation period is up to five years, starting from the date of land handover. A 10% earnest deposit of the land value is required, with payment completed to 15% upon finalizing the allocation. This is in addition to administrative fees of 1% and 0.5% for the Board of Trustees.
The remaining land price is to be paid in ten equal semi-annual installments. These installments include financial burdens calculated based on the interest rate announced by the Central Bank of Egypt, plus an additional 2% as per the instructions of the Ministry of Finance, along with a 0.5% administrative fee.
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