ACUD offers new payment, expansion facilities for developers
Updated 11/13/2024 10:47:00 AM
Arab Finance: The Administrative Capital for Urban Development (ACUD) has provided new facilities for real estate developers in the New Administrative Capital, Al Arabiya Business reported, citing an unnamed source familiar with the matter.
The facilities include the option to add additional floors to residential, commercial, administrative, and medical buildings, as well as offering installment options and substantial discounts on overdue land installment fees.
Developers now have flexible payment methods for the additional floors, allowing for either immediate payment or installments.
Installment plans include interest-free payments for up to a year or low-interest payments for up to three years, with terms aimed at stimulating investment in the New Administrative Capital.
The company’s board approved these measures in late October to help facilitate project expansion.
To support growth, ACUD is also offering 50% discounts on late penalties for developers who settle overdue payments in cash.
For those opting to pay in installments, the new policy requires a 25% down payment, with the remainder paid over a one-year period with interest.
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