The New Urban Communities Authority (NUCA) will offer 3,098 housing plots in 11 new cities, ranging between 209 and 287 square meters, through a land lottery system from September 15 to October 15, Invest-Gate reports.
Plots will be offered in New Sohag, New Damietta, New Borg El Arab, New Tiba, New Aswan, New Akhmim, New Fayoum, New Assuit, as well as, Sadat City and 10th of Ramadan City, Minister of Housing, Utilities, and Urban Communities Assem El Gazzar confirmed in a ministerial statement on September 6.
The move comes in line with NUCA’s plans to maximize the use of land and other resources, while also facilitating the provision of infrastructure, utilities, and services, El Gazzar noted, stressing that the land offering is aimed at serving all income levels.
On his part, Mohamed Anwar Hilal, vice president of NUCA for commercial and real estate affairs, said those qualified for the offer should be Egyptian citizens, not less than 21 years old, in addition, all family members are not entitled to apply for more than one land plot in the above-said cities.
Applicants should pay not less than 25% of the land’s price as a deposit, while the remaining 75% of the total land price shall be paid over three equal annual installments, with no interest, Hilal further stated.
The results will be later announced on the Housing and Development Bank (HDB) website: www.hdb-egy.com.