New Residential, Services Lands to be Offered in New Cities

New Residential, Services Lands to be Offered in New Cities

Tarek El Sebai, Deputy Chairman of New Urban Communities Authority (NUCA) for Real Estate and Commercial Affairs, revealed that booklets of new 138 mixed-use residential plots and 112 mixed-use services plots were offered on September 25, Invest-Gate reports.

The plots will be allocated in different new cities such as New Cairo, 10th of Ramadan, New Damietta, and New Minya, El Sebai noted in an official statement.

He said that the mixed-use residential plots will vary in areas from 500 to 7,544 square meters and will be used for residential, administrative, commercial, or entertainment purposes.

The services plots’ areas will vary from 405 to square 110,442 meters,  and will be used for building schools, hospitals, bakeries, gas stations, and sports clubs, El Sebai confirmed.

El Sebai showed that interested applicants should first buy the booklets then pay a down payment worth at least 25% of the land’s value and payers of highest down payment will be given a priority. However, a lottery may occur in case of receiving equal downpayments.

Exact locations of plots can be found on NUCA’s website, http://www.newcities.gov.eg/.

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