News / Government

New Sphinx Authority Gets 6,240 Applications for Land Reconciliation

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said that the New Sphinx City Authority has received 6,240 requests for reconciliation on land plots located in the new city

NUCA Nods to EGP 60.281 bn Budget for FY 2019/20

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

Real Estate Development Chamber Reviews 2020 Plans

Egypt’s cabinet is currently reviewing the Real Estate Development Law legally to be sent soon to the parliament for approval

Cabinet Approves Amendments to Property Tax Law

Egypt's cabinet approved draft amendments to the Real Estate Tax Act, exempting idle land from property tax

CBE Leaves Interest Rates Unchanged in December

The Central Bank of Egypt (CBE) decided to maintain the overnight deposit rate at 12.25%, while the overnight lending rate remained unchanged at 13.25%

Annual Headline Inflation Doubles in December

Egypt’s annual headline inflation rate rose to 7.1% in December 2019, compared to 3.6% in November of the same year

Gov’t Implements 3 Towers for Maspero Triangle Dwellers

Executive Director of the Development Fund for Slums Khaled Siddiq said that work is ongoing on three residential towers in Maspero Triangle to welcome its former dwellers

Sadat City Sees 5,800 Housing Units 75% Ready

New Urban Communities Authority Communities' (NUCA) Vice President Kamal Bahgat said 5,800 social housing units in Sadat City had reached an execution rate of 75%.

Gov’t to Revitalize 15 Informal Areas in Suez

Suez Governor Abdel Mageed Saqar and Executive Director of the Informal Settlements Development Fund (ISDF) Khaled Siddiq have inked cooperation agreement to revitalize 15 slums in Suez.

Phase I of Badr City’s Sakan Misr Almost Complete: Minister

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has announced that phase I of Badr City's Sakan Misr middle-income project, which comprises 1,272 apartments, reached a completion rate of 96%.

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