Egypt Daily News – The Egyptian Ministry of Housing, Utilities, and Urban Communities has unveiled a new round of investment land offerings in several new cities across the country, as part of its ongoing strategy to support urban expansion and meet growing market demand. These land plots are being offered under the direct allocation mechanism, which streamlines the application and acquisition process for developers and investors.
According to the ministry’s announcement, the new offerings span a wide range of sectors including commercial, administrative, residential, educational, and recreational uses. Prices vary depending on location, size, and designated activity.
In New Damietta, two plots have been made available:
- A commercial-administrative plot measuring 4,757 square meters at a price of EGP 41,465 per square meter
- A commercial plot of 1,250 square meters priced at EGP 30,045 per square meter
In New Akhmim, the following sites are offered:
- A residential block spanning 2,913 square meters at EGP 1,850 per square meter
- A mixed-use plot (commercial, administrative, residential, and hotel) covering 3,678 square meters at EGP 5,070 per square meter
- A nursery plot of 835 square meters priced at EGP 2,500 per square meter
In New Sohag, the ministry is offering:
- A commercial-administrative-hotel plot of 6,878 square meters at EGP 14,525 per square meter
- A venue plot for social events (Dar Monasabat) covering 6,000 square meters at EGP 5,740 per square meter
New Qena also sees multiple allocations:
- A warehouse plot spanning 3,636 square meters priced at EGP 2,195 per square meter
- A social club plot of 10,973 square meters at EGP 5,340 per square meter
In West Qena, offerings include:
- A commercial plot of 2,416 square meters at EGP 6,200 per square meter
- An educational facility plot spanning 12,073 square meters at EGP 2,555 per square meter
Each plot comes with specific building and usage regulations. For instance, the 3,636-square-meter warehouse plot must adhere to a 40% ground floor building ratio, with permitted building heights of basement + ground floor + two additional floors. All developments must comply with civil defense regulations and obtain approvals from relevant authorities, including any height restrictions set by the Armed Forces Operations Authority. Developers are also required to provide on-site parking in accordance with the Egyptian garage code.
Project Timeline and Payment Terms
All projects must be completed within three years from the date of land handover. Payment terms include:
- A 15% upfront payment (5% already paid + 10% due within a month of notification of the Board’s approval)
- An additional 1% administrative fee and 0.5% for the Board of Trustees
- The remaining amount is to be paid in six equal semi-annual installments, starting one year from the notification date
Installments are subject to the prevailing interest rate set by the Central Bank of Egypt, plus an additional 2% as per Ministry of Finance guidelines, and 0.5% administrative fees. Late interest charges will apply during any grace period.
Strategic Development Plan
The Ministry emphasized that these offerings are part of a broader strategy to meet investor demand in emerging urban areas. The direct allocation system allows for quick and transparent transactions, promoting private sector participation in national development. The ministry continues to release periodic offerings to stimulate economic activity, attract investment, and facilitate the comprehensive development of Egypt’s new cities.
