The Egyptian government will offer a total of 49 million square meters of land to investors in the upcoming days, said Serag El Din Saad, Head of Tourism Development Authority (TDA), in an interview with Daily News Egypt.
The 73 parcels of land offered range from 10,000 square meters to 1 million square meters and are located in North Coast, Red Sea Governorate, South Sinai, and Luxor.
This offering is the largest of its kind in TDA’s history, according to Saad. There are plots of land starting at 10,000 square meters, and there are also plots at 8 million square meters. The larger plots are for huge integrated projects including hotel investment, tourism housing, or tourism ports.
In the North Coast, TDA will offer 12 plots of land for investment.
In the Red Sea Governorate, there will be 10 sites offered ranging from 0.5 million square meters to 8 million square meters. There are 28 sites provided in the range of 10,000 square meters to 400,000 square meters.
In South of Sinai, specifically in Ras Sader on the eastern coast of Suez Gulf, 12 parcels of land are offered that range between 30,000 and 400,000 square meters. In Nabq Protected Area, five plots are offered from 18,000 to 200,000 square meters.
The price of the offered land ranges between EGP 89 and 444 ($10 and $50) per square meter and is set according to land appraisal values by the New Urban Communities Authority (NUCA), an affiliate of the Ministry of Housing. The land appraisal takes into consideration proximity to tourist centers, the degree of saturation, and the type of development, whether complete or limited.
TDA has achieved 66 percent of the targeted EGP 580 million for the current fiscal year, and is targeting EGP 720 million in revenues for 2016/2017.