Who is the developer of Nile Business City New Capital?

The company that owns Nile Business City New Capital is Nile Development

Fully finished administrative offices 150m for sale in Nile Business City New Capital

Reference: NS 107680

EGP 13,500,000

MLS Realty
+201200070979

Email Agent

+2 012 00 231 000

EGP 13,500,000

Fully finished administrative offices 150m for sale in Nile Business City New Capital

Reference:

NS 107680

Price:

EGP 13,500,000 Installment

Price / Sqm:

EGP 90,000 Per Sqm

Finishing Status:

Super Lux

Area:

150 sqm

Delivery In:

2027

Listed:

Tue 23 May 2023

About Nile Business City New Capital

Office for Sale in Nile Business City - New Capital By Nile Development - Delivery Year 2027

Nile Business City is being developed by Nile Company for Urban Development, a reputable real estate developer in Egypt. The compound is strategically located in the heart of the city and offers a range of housing options and commercial facilities.

From a legal perspective, Nile Business City is subject to the legal framework that applies to real estate projects in Egypt. Property ownership in Egypt is regulated by the Egyptian Civil Code, which outlines the legal aspects relating to property ownership, transfer, and usage.

In terms of ownership, each residential unit or commercial facility in Nile Business City is owned by an individual or multiple individuals who have purchased the property from the developer through a sale contract or deed of sale, which should be registered with the relevant government authorities.

Moreover, the management and maintenance of the compound are overseen by the homeowners’ association (HOA). The HOA is responsible for managing and maintaining the common areas and facilities within the compound, such as security, landscaping, and utilities.

Before purchasing a property in Nile Business City, buyers should perform due diligence to verify the developer's ownership of the land and obtain necessary permits and approvals from the relevant government authorities. Additionally, the property must comply with all applicable building codes and regulations.

The purchase agreement must be reviewed carefully to understand the legal rights and obligations of both parties. The agreement should include provisions related to property maintenance, security, access to common areas, and any restrictions on usage.

Buyers must ensure that the property is clear of any liens or encumbrances that may affect their ownership rights. Thus, a title search report from the relevant government agency should be obtained to confirm that there are no debts or legal issues related to the property.

It's important to be aware of the regulations regarding property ownership by non-Egyptians. Foreigners are only allowed to purchase specific types of properties, such as residential units or offices, and there are limitations on the percentage of ownership that foreigners can hold in a development.

In conclusion, Nile Business City is a new residential and commercial compound being developed in the New Administrative Capital of Egypt. To purchase a property in the complex, buyers must ensure that they comply with all applicable laws and regulations. It is recommended to work with a knowledgeable real estate lawyer to provide expert guidance and support during the purchase process.

MLS Realty
+201200070979