Egypt’s Madinet Nasr Housing vying to get 104 feddans in West Assiut

Egypt’s state-owned Madinet Nasr for Housing and Development is competing to obtain a land plot over 104 feddans in Nasser City in Western Assiut, Nasser City Authority’s head told Mubasher on Monday.

The real estate developer will pay an advance payment worth 34 million Egyptian pounds ($2.1 million) or 10 percent of the total value of the land that amounts to 340 million pounds at 780 pounds per square metre, Yasser Abdullah added.

The company has earlier submitted an offer to buy  600 feddans in Western Assiut for 1.638 billion pounds, but then asked for 104 feddans instead, he said.