The New Urban Communities Authority’s (NUCA) board of directors has approved selling four state-owned land plots to El Araby Company for Trading and Manufacturing to establish logistics areas in a number of governorates across Egypt, Invest-Gate reports.
El Araby will be developing logistics zones in four different cities, with the largest located in Sadat City, with an area of 40 acres. Other, smaller areas, are located in New Cairo, Borg El Arab, and New Qena, Deputy Chairman of New Urban Communities Authority (NUCA) for Real Estate and Commercial Affairs Tarek El Sebai revealed in a statement on January 7.
The board of directors has also approved the allocation of land area of about 65 acres in the southern extension of New Beni Suef city to Tiba for Real Estate Development for implementing the planning and division of an integrated urban project over a maximum period of four years from the date of the issuance of the ministerial decision, El Sebai added.
According to the deputy chairman, other plots were further allocated for purchase to a number of private investors for developing new projects in distinct sectors, including medical, educational, and administrative projects, in cities such as New Damietta, New Mansoura, 6th of October City, El Shorouk City, among others.
In addition, El Sebai noted that a 68-acre land area in east of New Cairo was allocated to Arab Economic Unity for Development and Investment to build an integrated villa compound. The value of the land, including down payment and subsequent installments, will be fully paid in USD.