Fifteen companies have presented bids to acquire land plots at the New Capital City. Amongst the bidders were SODIC (50 feddans), TMG Holding (500 feddans), and Misr Italia (on three plots with undisclosed sizes). This is part of the first launch at the City, which comprises 1,500 feddans. Technical proposals have been opened, while the financial offers will be opened and assessed over a period of no less than one month. The government is planning to collect a total of EGP20bn from the sale of the land (15 land plots for the first launch). Land areas of available land plots are: 50, 70, 100, 200 and 500 feddans. These are planned be developed into mixed-use projects. Payments will be made over three to seven years, with a maximum construction period of three to five years, depending on land plot size. 

TMG Holding: EGP8.23 as of 9 Mar. 2017, Rating: Buy, TP: EGP12.40/share, MCap: USD971mn, TMGH EY/TMGH.CA

SODIC: EGP13.10 as of 9 Mar. 2017, Rating: Buy, TP: EGP18.90/share, MCap: USD254mn, OCDI EY/OCDI.CA