Agriculture Ministry sells 39 plots in Sinai at 51M EGP

CAIRO - 16 May 2017: An auction was held by the Ministry of Agriculture, collecting 51.368 million EGP ($ 2.83 million) during Sunday and Monday’s sessions to sell 39 plots over 747 feddans (1 feddan = 1.038 acres) at Bir el-Abd area in Sinai.

In the framework of developing the Sinai Peninsula, the General Authority for Reconstruction Projects and Agricultural Development offered 2,500 feddans for sale to local residents of Sinai in April 2017, while 7,500 more for citizens from other governorates.

Auctioneers should buy a legal pack for 266 EGP and pay a 1,000 EGP insurance deposit. They cannot buy more than one plot and pay 25 percent of its price in cash, while the remaining amount in ten annual installments with 7 percent interest.
The auction continues until May 25.