Commercial land plots in 10th of Ramadan City have witnessed an increase in prices in the past four months by up to 30%, with the prices reaching up to EGP 67,000, Al Mal reported.
Around eight commercially-zoned plots were sold with prices ranging from EGP 8000 to EGP 17,000 per square meter. The land plots ranged in areas between 32 square meters and 99 square meters. Eleven plots allocated for office space were also offered with areas ranging between 32 and 66 square meters, according to Adel El Naggar, Head of 10th of Ramadan City’s Development Authority.
The increasing prices of the commercial plots were attributed to the increasing occupancy of the residential units within the city amid delivery of social housing units in addition to the enhancing of the city’s facilities. Several commercial land plots were sold last year as part of the project, with prices ranging from EGP 1,920 to EGP 3,900 per square meter.