Prime Minister Mostafa Madbouly, the Minister of Housing, Utilities, and Urban Development, has revealed that the New Urban Communities Authority (NUCA) is going to offer 400 lands for young investors in 14 new cities, Invest-Gate reports.

Lands will be located in different areas such as New Cairo, October Gardens, New Borg Al Arab, and New Sohag, Waleed Abbas, Assistant Minister of Housing for the Affairs of NUCA, said in an official statement.

Abbas has also said that investors should not build over more than 50% of the given land plot, while each building should not exceed five floors and each floor should not comprise more than four units.  

“Units’ areas will be varied between 100 and 120 meters and all buildings will be used for residential purpose only,” Abbas has added.