Egypt Offers 350 Feddans in New Al Obour to Investors

The Ministry of Housing, Utilities, and Urban Communities is preparing to offer 350 feddans in New Al Obour City to local and regional private sector investors to establish mixed-use projects including residential, commercial, administrative, medical, and integrated urban development activities.

Engineer Mahmoud Mourad, Head of the New Al Obour City Development Authority, stated that the offered land plots are directly located on the Cairo-Ismailia Desert Road, opposite the International Medical Center. He explained that the price per square meter ranges between 5,000 and 25,000 EGP depending on the type of activity and the area of each plot.

Mourad noted that the offering will take place via the New Urban Communities Authority website, where sales and reservations open from the 1st through the 15th of every month. This comes as part of the continuous offering mechanism aimed at facilitating investor access to available investment opportunities in new cities.

The head of the authority emphasized that infrastructure and utility works in the offering area have been completed at a cost exceeding 150 million EGP, making the land ready for investors to begin implementing their projects in accordance with specified regulations and guidelines.

What Do These Terms Mean?

Feddan: A unit of land area measurement in Egypt, approximately equal to 4,200 square meters.

Mixed-use: A project that combines more than one activity in one location, such as residential, commercial, administrative, and medical services.

Continuous offering: A governmental mechanism offering land and investment opportunities throughout the year within monthly reservation windows.