The head of the New Damietta Development Authority and the supervisor of the new city of Mansoura, Engineer Mohamed Ragab, said today, Saturday, that the New Urban Communities Authority has agreed to put forward a proposed site for investment in the new city of Mansoura, with the activity of a basic education school in the service center separating the first and second phase on an area of about 199 thousand meters Square and the estimated price per square meter 4470 pounds.
The head of the agency added, in a statement today, that the structural ratio of the project does not exceed 30% of the area of the plot of land, provided that the height is ground, 3 repeated floors and 6 meters from all sides, and the requirements of the Educational Buildings Authority are adhered to.
He explained that the project implementation period is 5 years from the date of receiving the plot of land, and the payment percentage is completed up to 15% of the value of the land in Egyptian pounds as a minimum down payment, which is (10% paid + 5%) that the company is committed to pay within one month from the date of notification, with approval The board of directors if the allocation is approved, 1% administrative expenses and 0.5% board of trustees), provided that the final price approved by the main real estate committee is dealt with, and the remainder of the land price is paid in 10 semi-annual installments in Egyptian pounds, and the first installment is due after 6 months from The exact date for the down payment.
The head of the agency explained that all installments are charged with the financial burdens determined according to the interest declared at the Central Bank from the date of notification with the approval of the Board of Directors until the date of payment, in addition to 2% according to the instructions of the Ministry of Finance and 0.5% administrative expenses, pointing out that the areas under deficit and increase according to the final determination Which comes from the device’s space management.
The article “Urban Communities” agrees to put up a proposed site for investment in New Mansoura, written in Al-Borsa newspaper.