In April, the New Urban Communities Authority introduced a plot of land dedicated to the activity of a school for sale in the new administrative city of the capital, with an immediate allocation mechanism.
According to the Authority’s data, the area of the plot is 9,330 square meter.
The Authority set the price per meter at 8,850 pounds, bringing the total value of the land to about 82.570 million pounds.
The Urban Communities Authority has set a set of requirements, namely that the construction of the plot should not exceed 30% of the total area
The allowable height should consist of a ground role and three recurring roles.
The duration of the project is five years, which is calculated from the date of receipt of the plot, according to the Authority’s data on its website.
The winner is obliged to complete the repayment rate up to 15% of the value of the land, and to pay the rest of the land price in 10 equal semi-annual installments, the first installment of which is due 6 months after the specified date of payment of the down payment.
All installments are charged in accordance with the interest announced by the Central Bank of Egypt from the date of notification with the approval of the Board of Directors to the date of payment, in addition to 2% in accordance with the instructions of the Ministry of Finance, and 0.5% administrative expenses.