Assistant Housing Minister for the New Urban Communities Authority (NUCA) Waleed Abbas said the authority has inked several cooperation protocols with the public enterprise sector and awqaf ministeries to develop the latter’s unused lands nationwide, Invest-Gate reports.

The announcement came during the fourth edition of Al Mal GTM’s “The Real Estate Debate,” titled “Growth Catalysts 2020,” on November 3, held under the auspices of Prime Minister Mostafa Madbouly.

According to Abbas, the government is planning to create a database that includes the volume of investments pumped in each city, together with lands available for sale and developers’ record actions, benefitting potential buyers and companies alike.

Speaking of the new mechanism of immediate land allocation, which is recently adopted by NUCA, the official noted that property developers finally got the chance to leverage the desired investment opportunities in the residential, commercial, educational, and services sectors. He noted that NUCA received 1,250 requests for land acquisition, of which 112 are approved to date and parcels have been allocated accordingly.

Investors’ applications showed an unprecedented demand on Upper Egypt cities, including Minya, Assiut, Sohag, and Aswan, the assistant housing minister underlined.