PM, Housing Minister Hold Talks on Marketing Units in NUCA Projects

PM, Housing Minister Hold Talks on Marketing Units in NUCA Projects

Prime Minister Mostafa Madbouly has convened a meeting to oversee the marketing status of units in the projects managed by the New Urban Communities Authority (NUCA), Invest-Gate reports.

The meeting was attended by Sherif El Sherbini, Minister of Housing, Utilities, and Urban Communities; Walid Abbas, Assistant Minister of Housing for NUCA Affairs; Abdel Khaleq Ibrahim, Assistant Minister of Housing for Technical Affairs; Hassan Ismail Ghanem, Chairman of the Housing and Development Bank; and representatives from leading real estate marketing companies.

At the outset of the meeting, Madbouly highlighted that the Ministry of Housing, represented by NUCA, has recently completed a significant number of diverse housing units in several new cities. As a result, an immediate marketing campaign must be initiated for these units.

Madbouly reviewed the inventory of available units as well as ongoing projects, including those in the New Administrative Capital (New Garden City District), the New Alamein City (tower projects and others), residential projects along the coastal strip in New Aswan, and the Magra El-Oyoun Wall area, among other cities.

Madbouly was tasked with developing a comprehensive plan to commence the marketing of the units already prepared for offering in these projects. The plan should set clear targets and establish specific timelines for the marketing companies, with a commitment to regularly review the progress towards achieving these objectives.

El Sherbini affirmed that this meeting was a direct result of his previous meeting with the Prime Minister on Thursday. During that meeting, an inventory of the housing units and available lands in new cities was compiled with the objective of formulating a comprehensive offering plan.

El Sherbini presented the findings of the inventory assessment, which included residential, commercial, and administrative units managed by NUCA in various new cities. This encompassed vacant residential units, both completed and under construction, as well as commercial and administrative units spread across multiple governorates.

Furthermore, the Minister of Housing, Utilities, and Urban Communities provided an overview of the current status of unit marketing in NUCA projects, including units that have been sold and those currently being marketed.


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