Aiming to enhance Egypt’s position on the map, the government has implemented a number of development projects including residential and infrastructure projects, with more plans being implemented. Invest-Gate presents what the government has achieved so far in this area.
Public-Private Partnership Projects
Public-private partnership (PPP) projects –between the Housing Ministry and private developers- have been growing over the last decade to fulfill Egypt’s development needs.
Under the PPP agreements, the New Urban Communities Authority (NUCA) allocates lands for big and well-established private developers and provides payment facilities related to the land’s value for an exchange of a stake in the project.
The first PPP phase included signed agreements for five land plots with Palm Hills Developments for 500 acres in New Cairo and 3,000 acres in 6th of October, the Saudi-Egyptian Alliance Mountain View-Sisban for 500 acres in New Cairo and 479 acres in 6th of October, and Arabia Group For Investment for 557 acres in 6th of October.
The ministry launched the first and second PPP phases with investments valued at EGP 365 bn and EGP 500 bn respectively, according to statements by the Housing Ministry.
As for the third PPP phase, the ministry plans to pump investments worth EGP 740 bn, sources told CNBC Arabia.
To know about the government’s hattricks in investment to promote development and improve the business climate, click here.