The Obour City Development Authority has announced the offering of proposed plots of land for immediate allocation within the city in December, subject to specific regulations, Invest-Gate reports.

Applications will be accepted at the New Administrative Capital’s Community Urban Development Authority until December 15, 2023.

Ahmed Rashad, Chairman of the Obour City Development Authority, highlighted that the proposed plots of land for investment in December encompass various areas and are designated for medical, commercial, residential, and nursery activities.

In a statement, the authority disclosed the availability of a plot of land in Sub-center 4 in the Sixth District spanning 2,787 sqm, allocated for medical activity, priced at an estimated EGP 17,995 per sqm.

Moreover, the project execution period is set for three years from the land acquisition date, with building regulations restricting construction to 40% of the allocated area and permitting a basement, ground floor, and two additional floors. Setbacks are stipulated at 5 meters in the front and 4 meters on the sides and rear.

Another plot of land, number 47 in Block 19073 in the Fourth District, was designated for commercial, and residential activity. It covers 600 sqm and is priced at an estimated EGP 16,465 per sqm.

Furthermore, the project execution period is three years from the land acquisition date, allowing a maximum construction of 30% of the land area, including a basement, ground floor, and three additional floors. Setbacks are mandated at 5 meters in the front and 4 meters on the sides and rear.

Additionally, land plot number 9 in Block 17064 in the Eighth Family Housing District, designated for nursery activity, spans 967 sqm and is priced at an estimated EGP13,080 per sqm.

Notably, Rashad emphasized that the available areas are subject to final adjustments by the city’s area management and advised interested parties to review the Immediate Allocation System’s procedures on the New Urban Communities Authority’s website.