Terms and conditions for New Capital land tenders leaked

The terms and conditions of land tenders in the 40k feddan first phase of the New Capital, which will be issued today, have leaked courtesy of Al Mal. As we noted last week, the Administrative Capital for Urban Development Company will auction off 15 pieces of land, with each piece ranging between 50 and 500 feddans. According to the terms, construction on land parcels ranging from 20-50 feddans must be complete within three years, while parcels ranging from 60-200 feddans are allotted four years. The 500-feddan block will be allowed five years to complete construction.