Walid Abbas, Assistant Minister of Housing at the New Urban Communities Authority (NUCA), and Amin Ghoneim, Vice President of NUCA for the Development and Urban Development Sector, presided over the signing of a contract involving the exchange of land plots owned by Samala & Alam El Roum Company in Alam El Roum area in Marsa Matrouh for two plots of land in New Cairo City, Invest-Gate reports.

The signing ceremony was conducted by Hassan El Shorbagi, Vice President of NUCA for the Real Estate and Commercial Affairs Sector, and Abdel Aziz Mohamed Abdo Abdullah Yamani, Chairman of Samala & Alam El Roum.

Abbas elucidated that the signing of this contract aligns with the directives of Sherif El Sherbini, Minister of Housing, Utilities, and Urban Communities, in accordance with the guidance of the political leadership and the endeavors of the Investors’ Problems Resolution Committee at the Cabinet.

He emphasized the Minister of Housing’s mandate to address issues faced by Arab and foreign investors, remove barriers, promote foreign direct investment, and cultivate a conducive investment climate across NUCA-managed lands.

Additionally, Ghoneim underscored the robust and enduring relations between Egypt and Saudi Arabia, emphasizing the Ministry of Housing’s, represented by NUCA, eagerness to welcome Saudi investments and extend comprehensive support and assistance to companies and investors. The NUCA offers a plethora of extensive and varied investment prospects in its new cities, particularly the fourth-generation cities, prominently including the New Administrative Capital, New Alamein, among others.