The New Urban Communities Authority has offered a plot of land designated for a comprehensive urban project in New Alamein City, Matrouh Governorate. This comes as part of the investment opportunities offered under the immediate allocation system for lands exceeding five feddans, within the Authority’s plan to support fully integrated urban projects in the new coastal cities.

The plot is located on the M43 Road next to the Maritime Academy and is numbered 2. It covers an area of 47,754 square meters, with a price of EGP 8,545 per square meter, bringing the estimated total value of the land to approximately EGP 408 million.

The planning requirements stipulate that the residential land ratio must not exceed 50% of the total project area, while the service land ratio should range between 8% and 12% of the plot area. Building ratios and height limits for each service activity are to be determined separately according to the nature of the usage.

The regulations also set the building ratio for apartment buildings at a maximum of 50% of the area allocated for housing, with a ground floor plus four upper floors. For villas, the building ratio is set at 40%, with a ground floor plus one upper floor, and a mandatory setback of no less than 6 meters from the external boundaries of the plot to the buildings.

The Authority emphasized the need to provide car parking spaces within the plot boundaries according to the Egyptian Code for Garages and its amendments, while adhering to the height restrictions established by the Armed Forces Operations Authority, without exceeding the approved building regulations for the project.

According to the offering terms, the project implementation period is three years, starting from the issuance date of the first ministerial decree approving the planning and division. It is noted that the final area will be based on the official survey issued by the City Survey Department, whether increased or decreased.

Regarding the payment method, 25% of the total land value must be paid as a down payment (10% already paid and 15% within one month from the approval notification), in addition to 1% administrative fees and 0.5% in favor of the Board of Trustees. The remaining land value will be paid in six equal semi-annual installments in Egyptian pounds, with the first installment due six months after the down payment.

Installments will carry financial charges according to the interest rate announced by the Central Bank of Egypt at the time of approval notification, in addition to 2% according to the Ministry of Finance’s instructions and 0.5% administrative fees.