Saturday 11/April/2026 – 10:44 PM
She announced Ministry of Housing Urban facilities and communities, through the New Urban Communities Authority, offered an investment plot of land in May 15th City to establish an events hall, as part of the immediate allocation mechanism aimed at enhancing social and recreational services within the new cities.
Details of offering a new investment land in May 15th City
The land is located in the center area of District 3/B, on an area of 3,600 square meters, at a price of 7,000 pounds per meter, bringing its total estimated value to about 25.2 million pounds.
The Authority determined the payment of 10% of the value of the land as a serious reservation deposit, provided that the percentage is completed to 25% in Egyptian pounds, with the remaining 15% being paid within a month of notifying the investor of the approval of the allocation, in addition to 1% administrative expenses and 0.5% for the benefit of the Board of Trustees.
Regarding the building requirements, it is not permitted to build on more than 40% of the land area, while adhering to setbacks of 5 meters from the front and 4 meters from the sides and back, provided that the permitted height is a basement, ground, and two recurring floors.
The authority also stipulated adherence to the controls of the Ministry of Culture and the Directorate of Social Affairs, in addition to the requirements of civil protection and the environment, with the necessity of providing parking spaces within the boundaries of the land in accordance with the Egyptian code for garages.
She stressed adherence to the height restrictions issued by the Armed Forces Operations Authority, and obtaining the necessary approvals from the competent authorities before starting implementation, taking into account that the final area may be subject to modification according to the height of the Cadastral Administration of the City Authority.
She explained that the project implementation period is up to 3 years from the date of receipt of the land, with the remainder of the value being paid in 6 equal semi-annual installments, the first of which begins 6 months after the down payment is made, with the installments being charged with interest determined according to the Central Bank rate, in addition to 2% in accordance with the instructions of the Ministry of Finance and 0.5% administrative expenses.
