Deputy Chairman of Administrative Capital for Urban Development (ACUD) Mohamed Abdel Latif has unveiled that the company is currently studying 43 requests submitted for the third offering of lands at the New Administrative Capital (NAC), Invest-Gate reports.

Abdel Latif told Invest-Gate that the third offering at the first phase of NAC project spans over 2,000 acres, noting that ACUD will officially launch the offering at the beginning of 2019.

He revealed that the price per square meter ranges between EGP 4,500 and EGP 5000, with an increase of 15-20% compared with the previous offering.

Additionally, he pointed out developers from the UAE, the US, Europe, and more, have already sent requests to obtain plots with massive sizes, ranging between 1,000 to 2,500 square meters.

He also disclosed that the third offering may include some public-private partnerships as well.

Commenting on negotiations with Emaar Misr and Talaat Mostafa Group (TMG) Holding, Abdel Latif said that they are still underway, highlighting that “[ACUD] welcomes Emaar and any other developer desiring to invest in the NAC.”

The deputy chairman explained that NAC’s first phase comprises 85 educational schools and three universities so far, among other service projects.

Meanwhile, the state-run company targets developing a huge public hospital in the new capital, covering an area of nearly 26,000 square meters.