03‏/05‏/2025

Offering a plot of land with urban activity in New Sphinx, at a value of EGP 724.5 million

The New Urban Communities Authority has offered a plot of land with an integrated urban activity in the new city of Sphinx for sale, with an immediate allocation mechanism, during this August.

The plot of land is located on an area of ​​420,000 square meters, with a price per square meter of 1,725 ​​pounds, with a total value of about 724.5 million pounds.

The price per square meter in this city for land allocated for an integrated urban activity is the highest compared to other lands in other cities. The authority specified the project implementation period within 5 years, to be calculated from the date of issuance of the first ministerial decision. It stipulated that the building percentage should not exceed 20% of the total area of ​​the plot of land, with an occupancy factor of 0.45.

As for the height, the height consists of a ground floor and two recurring floors, while adhering to the requirements of civil defense and not exceeding the height restriction of the Armed Forces of the region.

Payment mechanism

With regard to the payment mechanism, the payment percentage is completed up to 20% of the value of the land in Egyptian pounds, which is 10% serious reservation and the other 10% that the company is committed to paying within a month from the date of notification of the Board of Directors’ approval of the allocation, and the rest of the land price is paid according to 10 equal semi-annual installments, the first of which is due 6 months after the date specified for the payment of the advance payment, provided that all installments are loaded with the prescribed financial burdens according to the average interest rate announced on the Egyptian pound from the Central Bank for the period of 3 months preceding the date of the installment due in addition to 1% according to the instructions of the Ministry of Finance and 0.5% as administrative expenses.