Back to the complete issue
Sunday, 3 July 2016

New Administrative Capital Company sets capital land prices at EGP 3,000-5,000 per sqm

The New Administrative Capital Company (NACC) has set prices at EGP 3,000-5,000 per sqm for land at the capital tendered by the New Urban Communities Authority, with the firm to begin offering the first phase of land for investment in September, Al Borsa reported on Saturday. For land to be developed for urban use, prices were set at EGP 3,000 per sqm for areas exceeding 500 feddans, with prices increasing to EGP 4,000-4,500 for small and medium-sized plots. As for land set for commercial, administrative, and entertainment use, prices start at EGP 3,500 for large land plots and EGP 5,000 if they’re in close proximity to New Cairo. The NACC and developers had previously had disagreements regarding the pricing of land at EGP 4,310-4,510 per sqm, where developers pushed for land prices to increase in line with other developments such as Future City.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.