New land plots will be offered to real estate investors this month in Assiut City and Qena City, according to Mostafa Madbouly, the Minister of Housing, Utilities, and Urban Communities, reported Al Mal.
Additionally, land plots will be offered in El Alamein and East Port Said at the beginning of next year.
The Ministry of Housing is developing a strategy to build the cities using smart technology to be able to compete with other cities internationally, he added.
He also stated that the new investment law will help attract increased investment and speed up execution on new projects faster by facilitating construction permits.
The housing ministry plans to increase Egypt’s urban area by 20% to accommodate the rise in population and promote development and growth, according to Madbouly.