High Demand on New Land Booklets: Madbouly

High Demand on New Land Booklets: Madbouly

Minister of of Housing, Utilities, and Urban Development Mostafa Madbouly revealed that the demand on new land’s booklets is very high only three days after offering them, Invest Gate reports.

The New Urban Communities Authority (NUCA) offered more than 30,000 land plots for different housing projects such as social housing and premium housing. Individuals can apply to purchase these lands and recipients will be selected on a lottery-based system.

Down payments for social housing lands, according to Tarek El-Sebaey, NUCA’s vice president for trade and real estate affairs, will be EGP 25,000 and should be paid through the Housing and Development Bank.

As for premium housing and extra premium housing lands, down payments will be EGP 50,000 and EGP 350,000, respectively.

El-Sebaey added that NUCA will offer 14,248 pieces of land distributed across the country in areas such as 10th of Ramadan City, New Assiut City, and Al Sadat City.

NUCA will offer 10,626 land plots for premium housing, while 5,271 lands will be offered for extra premium housing.

Buyers of premium and extra premium housing lands should complete the construction of their properties within three years from receiving the land.

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