450 USD for meter in New Cairo, 610 USD in Sheikh Zayed , 160 USD in New Menya (Al-MenyaAl-Gadida), 225 USD in Badr and 385 in New Damietta.

Prices revision of industrial lands affiliated to new u...

  450 USD for meter in New Cairo, 610 USD in Sheikh Zayed , 160 USD in New Menya (Al-MenyaAl-Gadida), 225 USD in Badr and 385 in New Damietta. Prices revision of industrial lands affiliated to new urban communities in 17 industrial cities Completion of prices evaluation of 48 million square meter in Tenth of Ramadan city to be allocated for industrial investment Head of  Government  Services Authority and head of Supreme Evaluation Committee, Lotfy Shendy, confirmed that the committee completed re-evaluation of land price offered by New Urban Communities Authority for Egyptians in abroad to be used in constructing family houses. Land price was determined  at 450 USD for each meter in New Cairo City , 610 USD in Sheikh Zayed, 385 in New Damietta, 225 USD in Badr ,160 USD in the first area in New Menya, and 190 USD in the most distinguished second area, as a preliminary step toward re- promoting these lands among Egyptian groups  abroad . He declared prices reevaluation launch of lands affiliated to new urban communities in 17 industrial cities in some  Egyptian governorates : Badr City, Tenth of Ramadan City, 6th of October, New Cairo, 15th of May, Al-obour , New Damietta, Al-Saddat, Borg Al-Arab Al-Gadida, Al-Saliheya Al-Gadida , Al-Nobarya Al-Gadida, Banysoaf Al-Gadida, Al-fayom Al-Gadida, Al- Menya Al-Gadida, Assiout Al-Gadida, Sohag Al-Gadida, North of Suez Gulf. He said that the committee actually concluded  prices re-evaluation of New Urban Communities Authority’s lands  in Tenth of Ramadan, amounting  702 plots of land with total area of almost 48.6 million square meter  in order to be offered to investors by Industrial Development Authority whereas  these lands will be allocated for industrial investment. He demonstrated that prices approved by the committee are differentiated according to each plot of land and its advantages. These range between  L.E 420 and L.E 750 for each square meter. Such prices shall be valid only for six months , then if some of these plots  remain unsold , they will be re-evaluated to ensure transparency and maintain public treasury rights. He said that  Minister of Finance, Dr. Ahmed Galal, asked the supreme committee to quickly complete land evaluation allocated for industrial purposes and launch offering them to investors, which  depends on the completion of official price evaluation, mentioning that the Minister determined some criteria to be considered while evaluation , of which maintaining public treasury rights and without abuse, following objective ,clear and transparent rules. He also added that implementing  Ministry of Finance’s Policy, therefore prices re-evaluation depends on several criteria established by the committee, which includes  a number of evaluation experts, such as different value of land plots in terms of its location in an already developed  area, in the nearby, or in a targeted to be developed area, taking into account the prevailing market prices and the nature of the industrial activities licensed to be established on and the related facilities’ cost, where there are lands dedicated to different industrial activities and lands dedicated for storage associated with industrial activity. He said that the committee take also into account in its work, land price levels in industrial cities, in cities and governorates near tenth of Ramadan and also in other cities across Egypt to ensure non existence of considerable price variation.  He added that the authority has also re-evaluated  10 acres along the industrial region south east  of Raswa in Port Said Governorate, which will be used to establish parking area to accommodate containers  operating inside the port, amounting  at 19 million pounds. Also land value in the same region , which will be disposed by the Agency of  Internal Trade Development  affiliates to Ministry of Supply, reaching 63 acres , evaluated at about 93 million pounds. It has been also increased the usufruct value of the plot of land allocated for Al –Nada farms in El Mahgar El- Betray region in Aswan for 60 thousand pounds annually, He pointed out that the committee , according to Al Wadi El Gadid governorate requests, evaluate 7500 acre in Frafra,  El Wadi El Gadid , which will be allocated for a livestock and  agriculture development company, in addition to re-evaluating lands of South Sinai in Sharm El Sheikh , Nuweiba , Dahab , and Al Tor .