The New Urban Communities Authority’s Board of Directors held a meeting chaired by Assem El-Gazzar, the Minister of Housing, Utilities, and Urban Communities, Invest-Gate reports.

Some members attended virtually, while others participated via video conference. The meeting covered a review of the Authority’s financial position, as well as its future plan for the next 10 years.

Furthermore, the final account of the New Urban Communities Authority for the fiscal year 2022/2023 was approved.

El-Gazzar elaborated on the future plan, which aims to ensure the continuity and sustainability of development for the New Urban Communities Authority and its agencies over the next decade.

The plan is designed to contribute to the advancement of the Egyptian economy and provide housing units of various types suitable for different segments of society. It also focuses on providing land for various activities, aligning with the first goal of the National Strategic Plan for Urban Development – Egypt 2052.

El-Gazzar emphasized that the New Urban Communities Authority is one of the world’s largest real estate developers, with over 48 new cities spread across the Republic, including 24 fourth generation cities whose implementation began in 2014. These cities serve as centers for financial and business leadership.

He also highlighted that the Authority received the Appreciation Award in the field of sustainable urban development from the United Nations Human Settlements Program in 2021. This prestigious award, granted based on the committee’s consensus among more than 170 nominations from various countries, recognizes the Authority’s role in providing adequate housing and creating integrated urban communities with comprehensive services and well-connected road networks.