The Eastern Front Services neighbourhood of El Shorouk City is the location of the real estate investment firms that the New Urban Communities Authority discovered are looking to buy a piece of land set aside for a wholesome athletic activity.
According to the urgent land allocation method, the authority permitted the sale of said land in August.
These businesses are “Ora Company, Al-Madina Markets for Trade, Import and Export, and My Home for Real Estate Investment,” according to the authority.
The offers’ technical acceptance was approved by the authority, and the financial opening for them is set for the following Monday, March 10, 2022.
Since March 2019, the New Urban Communities Authority has made the decision to offer these lands using the direct allocation process, resulting in the availability and readiness of the lands being shown on the authority’s website from the first to the fifteenth of the month.
The most recent of these changes was the addition of a clause requiring applicants for the allocation of land plots for different activities to submit a statement of their full commitment to all the terms of the offering for implementation periods, in addition to bearing the effects. The Urban Communities Authority has made several fundamental changes to the terms of the immediate land allocation mechanism in order to facilitate and remove obstacles that have surfaced since its implementation.
Legal in the event that the Real Estate Regulations’ regulations and provisions are not followed.
And the addition of a new clause stating the commitment of the land allocated to provide a schedule for the project’s implementation for all areas with equal rates of implementation and stages in accordance with the project duration issued by the allocation decision, with its inclusion in the contract documents, and it is approved by the city authority for areas that do not require the issuance of a ministerial decision.
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