Al Yosr for Projects and Agricultural Development, a subsidiary of Egypt’s Sixth of October Development and Investment (SODIC), has received a letter from the New Urban Communities Authority (NUCA) regarding the change of use of a land plot owned by the company in Sheikh Zayed City, west Cairo, Invest-Gate reports.

“The letter informs Al Yosr of NUCA’s board of directors decision regarding the payment required to be made by landowners in order for NUCA to deliver infrastructure to the plot and change the land use from agricultural to residential, increasing the allowable built-up area,” SODIC says in an official statement on November 14.

Covering an area of 300 acres, the land plot is located 44 kilometers from Cairo-Alexandria Desert Road, in close proximity to SODIC West, a flagship development in west Cairo.

“Al Yosr will make an in-kind payment of 50% of the land,” according to the statement.

“This development will enable [SODIC] to progress with the planning and launch of the project with the aim of bringing the inventory into our sales pipeline in 2019,” the company added.

In its statement, SODIC revealed that 41% of its “unlaunched land bank” is in west Cairo, in addition to another 41% in east Cairo as well as 18% in the North Coast.