The New Urban Communities Authority (NUCA) will offer 1,042 fully-finished housing units in the R3 residential district of the New Administrative Capital (NAC) and Shorouk City’s Sakan Misr middle-class housing project, Invest-Gate reports.

A total of 538 units will be offered in Shorouk City at areas ranging from 106 to 133 square meters, while the other 504 apartments at NAC stretches between 130 and 173 square meters. All properties will be available for sale online on a first-come-first-served basis through the Housing and Development Bank’s website, Minister of Housing, Utilities, and Urban Communities Assem El Gazzar announced in a ministerial statement on June 24.

As for payment terms, Deputy Chairman of NUCA for Real Estate and Commercial Affairs Tarek El Sebai acknowledged that 10% of the unit’s value shall be paid within six months as of the reservation date and another 10% will be given upon delivery. Finally, the remaining amount will be settled either on quarterly installments over three years, with no interest, or by applying interest rates on quarterly installments over five to seven years, El Sebai added, yet did not mention the required rate. 

Poised to be a facelift to many Egyptian governmental headquarters and ministerial buildings, NAC covers 170,000 acres, with the first phase spanning across 40,000 acres and including the R3 neighborhood. The district comprises 25,400 residential and commercial units, of which 25,000 units are still at different stages of construction to encompass apartments and villas.