Lagoons New Capital City

Lagoons New Capital City: the lowest flat metre in R8

Lagoons New Capital City is a Modon Egypt compound in R8. Per the developer, it covers 60 feddans, 10 of them lakes, with 60% of the units flats and the rest villas. The flat metre here is about 32,900, below every project around it in the district. Handover is October 2029. Note that this is not Lagoons Al Alamin, the same developer's project on the coast.

Against R8 neighbours

Within a kilometre and a half of Lagoons:

• Chapters Residence: flats near 38,100 a metre.
• The Islands: close to 38,500.
• Canyon8: about 43,800.
• De Joya 4: near 48,400.
• La Verde: around 52,000.

So a Lagoons three-bedroom starts about 5,000 a metre below the cheapest rival. On a 147 m² flat that is close to 760,000, more than the flat's own deposit.

Flats and duplexes

The developer currently sells only three-bedroom flats, 147 up to 186 m², between 4,839,000 and 6,417,000, plus two duplexes, one with three bedrooms on 252 m² (8,694,000) and one with four on 295 m² (9,968,000). Every unit on offer follows one plan: 10% down over 10 years.

Instalment and keys

The cheapest three-bedroom books with 483,900, then about 36,300 a month. The three-bedroom duplex takes 869,400 and near 65,200 monthly. Handover comes after some 36 of the 120 instalments, so you move in with close to 37% paid and seven years still to go.

The four-bedroom duplex

Its metre, about 33,800, is below the three-bedroom duplex's (around 34,500). Between them lie 43 metres and a bedroom for about 1.27 million. Lagoons' duplex metre is also below The Islands (near 39,400), Canyon8 (about 42,200) and De Joya 4 (near 46,700).

The smallest deposit for three bedrooms, and a distant handover

If you want three bedrooms in the Capital at the lowest deposit and instalment possible, Lagoons is among the clearest options: under half a million down and an instalment below 40,000. But the low price has a cost: handover is 2029, with seven years of payments after it. Anyone in a hurry to live there should look elsewhere. Per the developer there are villas, but none are on offer now, so ask about the next phase if you want one.

Resale close to the developer

This month brought 13 resale three-bedrooms, from 147 m² up to 186, priced from 4.21 million to 5.77 million. The cheapest is about 630,000 under the developer, but handover is still 2029, so ask the seller what was paid and what is owed. If the gap is small after that sum, buying from the developer over the long term is easier, since resale usually wants the difference in cash while the developer spreads it over 10 years.

The lakes and the location

Per the developer, the lakes sit at the centre, with units arranged so most look onto water or greenery. The site is near the Green River, the Central Park and the Mohamed Bin Zayed Axis, as well as the Cathedral, Al Fattah Al Aleem Mosque, the Diplomatic District and the Ministries district. Modon Egypt also has Villagio in October and Golf Town in New Cairo.

Want to know which Lagoons flats face the lake? Message Masharf on WhatsApp and we'll ask Modon Egypt.