Assem El-Gazzar, Minister of Housing, Utilities, and Urban Communities, has announced the launch of the Foreign Investment Portal by the New Urban Communities Authority (NUCA), starting from today, Invest-Gate reports.

This initiative aligns with the government’s plan for digital transformation, aimed at supporting investment and streamlining procedures for investors. It also reflects NUCA’s ongoing commitment to digital transformation in order to facilitate all its services and drive investment in new cities.

El-Gazzar clarified that the portal offers investors the ability to submit inquiries about investment opportunities or requests to provide investment opportunities for all service activities in new cities using funds transferred from abroad, specifically in US dollars. He emphasized NUCA’s significant success in allocating plots of land using funds transferred from abroad.

Walid Abbas, Assistant Minister of Housing for the Affairs of the New Urban Communities Authority (NUCA), outlined the steps that investors need to follow when using the portal. These steps include registering an investor’s account and entering all the required information (name, ID number, email, phone number). After registration, the investor receives a message to activate the account and proceeds to register the data of their company or companies, along with uploading the necessary documents.

Abbas added that after registration, investors can submit a request to provide an investment opportunity if they are not aware of the specific details of the plot of land. Alternatively, if the investor knows the details of the plot of land, they can submit an inquiry request.

Abbas explained that requests are accepted on the portal from the 1st to the 7th of each month, and responses are provided between the 8th and 14th of each month, indicating whether the requested plot is available or not. If the plot is available, the investor has until the 30th of the month to complete the required procedures and submit the necessary documents. The final allocation is made by the Board of Directors of NUCA.