Prices of commercial units at New Minya have increased during a public auction held last week, in which six units were auctioned between EGP 10,000 to EGP 13,000 per square meter, reported Al Mal.

Head of New Minya City Authority Mohamed El Kosary told Al Mal, “This auction witnessed nearly a- EGP 2,000- increase of prices since last auction.” Despite the increase, the city plans to offer more commercial units beginning 2017 spread across various residential neighborhoods of the social housing and national housing projects to meet the high demand, El Kosary claimed. Sizes of such units vary from 15 to 32 square meters, Veto Gate reported.

New Minya City Authority has dedicated 13 acres of land for facilities construction at EGP 1,315 per square meter; and plans to offer an additional of 15 land plots in 2017 for mall, university, and school developments.