In a groundbreaking move, the New Administrative Capital for Urban Development (NACUD) has unveiled a game-changing payment scheme for land sales. Breaking tradition, developers can now acquire land within the capital through a flexible, quarterly installment plan, representing a first-of-its-kind initiative in the city’s development.
This innovative approach, spearheaded by NACUD Chairman and CEO Eng. Khaled Abbas aims to breathe life into the capital’s real estate market by providing developers with much-needed support. Recognizing the challenges of rising construction costs, the new scheme seeks to alleviate financial burdens and empower developers to drive the city’s growth.
“Our commitment to fostering a vibrant and flourishing real estate market in the New Administrative Capital remains unwavering,” stated Eng. Abbas. “This new payment scheme underscores our dedication to supporting developers and partnering with them in shaping the future of this ambitious project.”
Under the new system, developers can purchase land in manageable twelve-month installments, with each payment due every three months. This provides increased financial flexibility and eases the initial capital requirements, allowing developers to allocate resources for construction and further optimize their project finances.
The initial implementation of this pioneering scheme is set for MU 23, a strategically located mixed-use district within the capital. From January 14th, developers can access the tender documents through NACUD’s official website, with the application window open until January 24th.
Industry experts anticipate a warm reception for this innovative policy. The increased accessibility and ease of financing are expected to attract a broader range of developers, injecting fresh energy into the capital’s real estate landscape. With this adaptable framework, the New Administrative Capital is poised to witness a surge in development activity, further solidifying its status as a prime hub for investment and growth.
This landmark decision marks a significant milestone in the New Administrative Capital’s journey, laying the groundwork for its real estate market’s dynamic and sustainable future. With developers empowered and resources optimized, the city is primed to thrive as a vibrant center of commerce, innovation, and modern living.
New Era of Land Acquisition in the New Administrative Capital
