The New Urban Communities Authority (NUCA) has said that its board of directors (BoD) agreed on the FY 2020/21 budget, with total investments worth EGP 60.281 bn, Invest-Gate reports.

In the meeting headed by  Minister of Housing, Utilities, and Urban Communities Assem El Gazzar, NUCA also gave the nod to the investments allotted for national projects and the New Administrative Capital (NAC) in the new fiscal year, yet no further figures were disclosed, according to an official statement on

The board also approved Egypt’s participation, along with major private developers, in MIPIM 2020, which will take place in Cannes from March 10 to 13. El Gazzar said that this step will contribute to the country’s ambitious plan to boost real estate exports, while marketing for the national megaprojects being implemented cross-country.

In March, the Egyptian government and the private sector, represented in eight of the top real estate development companies, participated in MIPIM 2019 under the brand vision of “Building a Sustainable Future Together.”.

Back then, Deputy Minister of Housing for National Projects Khaled Abbas said that participating in MIPIM is an opportunity to learn about the other’s experiences in this vital sector, where technologies and modern methods of construction advance.