The Ministry of Housing, Utilities, and Urban Communities is offering land plots for sale as part of social housing project and the first phase of Dar Misr project, in collaboration with the Ministry of Investment, Invest-Gate reports.
According to Minister of Housing, Utilities, and Urban Communities Mostafa Madbouly, land offerings will be on offer from February 26 until March 2. The lands plots range from 540 to 9,3477 square meters and are located in several cities, including New Cairo, Obour City, 10th of Ramadan City, New Damietta City, Sadat City, 15th of May City, Shorouk City, Badr City, 6th of October City, and Borg El Arab City.
Lands on offer are expected to be used for the construction of commercial units, residential units, offices, entertainment areas, nursery, school, social and sports clubs, medical center, hospital, public service center, gas station, conference halls, and a bakery.
Citizens may reserve the lands with a down payment worth 5% of the total value, which amounts around EGP 18,327, and the rest on a three-year- installment plan starting from the day of purchase. “Prices may vary based on the location and size of the lands,” said Supervisor of the Commercial and Real Estate Sectors at the New Urban Communities Authority Tarek El Sebaey.
Reservation conditions draft will be made available for investors on January 31 at the city’s Authority.