New Urban Communities Authority’s (NUCA) board of directors has allocated five land plots for the development of various projects in 6th of October City, west Cairo, with payments to be made in dollars via bank transfers overseas, Invest-Gate reports.

The board approved allocating a 12,450-square-meter land plot in west Cairo’s Northern Extensions Area, to Future Academy Company for building and operating an advanced model school, which is expected to be delivered within five years from handover date, Deputy Chairman of NUCA for Real Estate and Commercial Affairs Tarek El Sebai said in an official statement on June 22.

Additionally, Octoil will receive a 493.71-square-meter plot in the third industrial zone and Al Shohadaa for Real Estate Investment will get a 6,200-square-meter area to develop a commercial project, with a required implementation period of three years from receipt date, El Sebai affirmed.

It was also agreed to allot an area of 9.09 acres, located in the eastern expansion area of ​​6th of October City, for Gulf Company for Investment and Development to establish a commercial complex. Besides, another 6047.53-square-meter spot in the Central Axis, 6th of October City, was directed to Makkah Real Estate Investment Company to build an administrative and commercial project, according to the statement. Both firms got a three-year execution period from the date of receiving, the official revealed.

Meanwhile, Minister of Housing, Utilities, and Urban Communities Assem El Gazzar also announced that NUCA’s board has approved the allocation of an 11.02-acre plot in New Tiba, Luxor, for Shefaa Charity Foundation to develop and operate a private hospital for children, an institute of nursing, as well as, the provision of several other medical services for Upper Egypt’s residents, according to the statement.