Sunday 07/December/2025 – 05:43 PM
Today, the New Obour City Development Authority organized a public auction session at the agency’s headquarters in the conference hall, amid a remarkable attendance that confirms the growing confidence of investors in the components of the promising city.
This came under the directives of Engineer Sherif El-Sherbiny, Minister of Housing, Utilities and New Urban Communities, towards enhancing urban development and creating an attractive investment climate within the new cities.
The auction included the offering of 5 commercial stores and one restaurant with areas ranging from 14 to 23 square meters under buildings (1 – 6 – 108) in the Sakan Misr area – formerly District 39 in an area of 2,600 acres, in addition to 3 commercial stores and a pharmacy with areas ranging from 20 to 40 square meters in the commercial market on plot No. (53) in the District 14 area – Al-Fayrouz.
The session was chaired by Engineer Mahmoud Murad, head of the agency, in the presence of representatives, assistants, and directors of various departments, in addition to Counselor Sami Abdel Hamid, Chairman of the Fatwa Committee of the State Council, accountant Amr Mohamed Ahmed, representative of the Ministry of Finance, and accountant Dr. Sherif El Gendy, Director General of the Real Estate Affairs Sector at the New Urban Communities Authority.
The session witnessed an atmosphere of enthusiasm and serious competition among applicants, as bids increased at a pace that reflects a real desire to invest within the city, and positive indicators clearly emerged of the high demand for commercial and service activities in line with the rapid urban growth movement.
The auction witnessed a significant increase in award prices, with the price per square meter reaching about 200 thousand pounds, which reflects the strong demand and the competition of investors to seize investment opportunities within the city.
The session resulted in the sale of all the shops and the pharmacy offered for a total value of about 28.7 million pounds, a strong indication of the strength of the market and the growing confidence of investors in the future of New Obour City.
The head of the agency added that this auction is a step within an expanded program of periodic proposals that the New Urban Communities Authority is working to implement during the coming period, with the aim of stimulating economic activity and providing integrated services within the new cities.
This success reflects the pivotal role of the city authority and the authority in supporting organized urban expansion and attracting qualitative investments, in a way that enhances comprehensive development opportunities and keeps pace with the goals of Egypt’s Vision 2050 towards sustainable cities and improving the quality of life for citizens.
