NUCA Extends Deadline for Land Payments: Expert

NUCA Extends Deadline for Land Payments: Expert

Mena Group Founder and Vice-Chairman of Egypt Businessmen’s Association (EBA) Fathallah Fawzy has confirmed that the government signed off on the real estate developers’ request to extend the deadline for all land installments by six additional months, at Invest-Gate’s “Smart Real Estate Market Amid COVID-19” roundtable.

Not to mention that the New Urban Communities Authority (NUCA) also agreed to postpone the forthcoming project deliveries in new cities, which were supposed to be completed by year-end, Fawzy further stated as he moderated Invest-Gate’s first virtual roundtable on May 17.

The market expert hailed the efforts of the Ministry of Housing, Utilities, and Urban Communities in combating the recent outbreak of novel Coronavirus as well as enforcing necessary precautions across the board, in an attempt to alleviate pressure on the economy and revive hard-bitten markets. He also called on the joint collaboration between private and public sectors to smoothly ride out the Covid-19 storm.

Co-moderated by Invest-Gate’s Managing Partner Mohamed Fouad, the one-hour roundtable witnessed the participation of Deputy Minister of Housing, Utilities, and Urban Communities for National Projects Khaled Abbas. Other participating members include Tatweer Misr President and CEO Ahmed Shalaby, Lotus Management Chairman and CEO Amr M. Aboualam, Rooya Group Chairman and CEO Hisham Shoukri, Iwan Developments CEO Waleed Mokhtar, Mountain View Chairman Amr Soliman, and Tabarak Developments CEO Ali El-Shorbany.

It was being sponsored by Mountain View, Rooya Group, Iwan Developments, Tabarak Developments, and City Edge Developments, alongside Economy Plus as a media partner.

For the complete virtual roundtable coverage, open “Smart Real Estate Market Amid COVID-19.”


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