The New Urban Communities Authority (NUCA) announced on November 3 the allocation of three land plots for commercial use in New Alamein to serve local residents, Invest-Gate reports.
NUCA’s board of directors approved the allocation of a 14,334.69-square-meter land plot to Cairo For Investment and Real Estate Development (CIRA) for the establishment of an educational complex in New Alamein, Deputy Chairman of the New Urban Communities Authority (NUCA) for Real Estate and Commercial Affairs Tarek El Sebai said in an official statement.
However, the project must be presented to the pricing committee to determine the price per square meter at a discount of 25% from the total value and it should be implemented in five years from the date of the contract, he noted.
El Sebai added that another 9,729 square meters were allocated to Andalucia Financial Consultancy and Investment to build a medical center in New Alamein’s services area, near the city’s housing project.
The board of directors has also approved the allocation of an additional 1,000 square meters in the social housing services area – which is subject to be decreased or increased – for establishing a bakery.