The New Urban Communities Authority (NUCA) grants some facilities and amendments to land allocation mechanisms for service, investment, and urban projects in the new cities, Invest-Gate reports.

Assem Al-Gazzar, Minister of Housing, confirms that granting these facilities comes within the framework of the authority’s keenness to support investors and attract more investment opportunities in the new cities to establish various types of projects that contribute to the development of these cities.

Al-Gazzar states that the approved facilities include increasing the implementation period for all service and investment projects by 20%.

The facilities also include a grace period in return for a fee and the possibility of scheduling all due installments of the value of the plots of land in 2023, he adds.

The minister indicates that the facilities also allow the application of the volume rule in all urban projects based on population density, or the land exploitation coefficient, with a deduction of 50% of the value determined for granting this advantage, given that the project’s completion rate reaches 85%.