Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly has reviewed the New Urban Communities Authority’s (NUCA’s) tangible achievements in 2018, Invest-Gate reports.
NUCA had approved the designs and planning of 115 investment, urban, and service projects – which will be established across 73,000 acres in 15 new cities, including 23 projects in the New Administrative Capital (NAC), according to an official statement by the ministry on December 26.
These achievements have resulted in a developmental leap among the under-construction new cities, Madbouly said, pointing out that these projects have significantly contributed to pumping investments in the local market as well as providing more than 450,000 job opportunities.
Walid Abbas, assistant minister for community affairs of NUCA, said that the authority had provided lands for real estate investment covering a total area of 10,000 acres during 2018.
NUCA operates based on three aspects, namely providing lands for housing purposes for the different segments of the Egyptian people, offering housing units that suit distinct classes, and presenting various services to cater for all the needs of residents of the new cities, Abbas elaborated.
According to Abbas, nearly 400 land plots were put up for tender in 14 new cities, covering an area of 82 acres, as part of NUCA’s plans to encourage small real estate companies to build more residential units for medium-income families.
In addition, about 2,192 plots were put up for sale to Egyptian expats, spreading over a total area of 700 acres, the official said, noting that this comes to fulfill the aspirations of expatriates to own their land areas in their homeland.
Abbas confirmed that NUCA had also put up 112 plots for sale in nine new cities for investment purposes, while a number of land areas were offered for sale in the new cities of Upper Egypt, aiming to develop provincial-level service projects and to meet the residents’ needs.