FILE- Housing Minister Mostafa Madbouly
CAIRO - 26 November 2017: The Ministry of Housing will launch land plots in 23 new cities for investment and services purposes, with spaces between 252 square meters and 113,400 square meters, Minister of Housing Mostafa Madbouly announced.
Applicants shall pay 5 percent of the plot's value in advance, which would span between LE 32,700 and LE 10.86 million, depending on the space.
The rest of the payment is to be paid over three years, deputy chairman of the New Urban Communities Authority (NUCA), Tarek el-Sebaey, said in a statement.
NUCA will receive applications from December 24 to December 28, Sebaey added.
Earlier this year, the ministry launched 24,024 land plots across 19 new cities in July.
Around 12,721 land plots will be used for social housing, 7,373 land plots will be used for high-end housing projects, and 3,930 land plots for more advanced high-end projects.
The lands are located in New Cairo, 6th of October, Sheikh Zayed, Shorouk, Obour, 10th of Ramadan, Badr, 15th of May, New Minya, New Borg el-Arab, New Damietta, New Qena, New Akhmeem, New Fayoum, New Beni Suef, New Assiut, Sadat, New Tiba, and New Sohag.