The New Urban Communities Authority (NUCA) is currently studying offers from 70 real estate developers for public-private partnership (PPP) projects, Al Borsa reported.
NUCA has put forward eight plots of land, about 2,855 acres in size, in four new cities for collaboration with developers, with investments totalling EGP 230 billion.
The NUCA bidding includes a 2,000 acre plot in October Oasis in 6th of October City, five plots in Zayed City (sized 410 acres, 190 acres, 73 acres, and 19 acres respectively), and 74 acres for the establishment of urban and commercial, administrative, hotel and tourist activities. One 22 acre plot is offered in New Aswan City, and another 67 acre plot is also offered in New Damietta.
A number of developers are invited to compete in the public bidding including SODIC, Palm Hills, Mountain View, Emaar Misr, Al Ahly for Real Estate investment, Wadi Degla for Real Estate Investment, Futtaim Holding and City Stars for Real Estate Investment.