Masress : Egypt's Housing Ministry reviews NUCA 2018 accomplishment rates

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Egypt's Housing Ministry reviews NUCA 2018 accomplishment rates

Amwal Al Ghad Published in Amwal Al Ghad on 27 - 12 - 2018

Egypt's Prime Minister and Housing Minister Moustafa Madbouly said the sector of planning and projects at the New Urban Communities Authority (NUCA) accomplished several tangible achievements in 2018 that resulted in a developmental leap in new cities.
In a statement released by the Ministry of Housing on Wednesday, Madbouly said that the sector approved the designs and planning of 115 investment, urban and service projects that will be established on 73,000 feddans in 15 new cities including 23 projects in the New Administrative Capital.
Madbouly said that these projects contribute to pumping investments in the local market and providing more than 450,000 job opportunities.
Assistant Housing Minister for the NUCA Affairs Walid Abbas said that the sector provided lands for real estate investment covering a total area of 10,000 feddans.
The sector is working on three axes including providing lands for housing purposes for the different segments of the society, providing housing units for the different classes of people and providing services to cater for all the needs of residents of the new cities, he said.
As many as 400 land lots were put up for tender in 14 new cities on an area of 82 feddans as part of plans aiming at encouraging small real estate companies to build residential units for medium-income families, he said.
As many as 2,192 plots of land were put up for sale to the Egyptian expatriates over a total area of 700 feddans, Abbas said, adding that this comes to fulfill the aspirations of Egyptians living abroad to own their own houses in their homeland.
Abbas said that the sector worked on preparing detailed designs for 120,000 housing units in social housing projects.
Also, the sector put up for sale 112 plots of lands in 9 new cities for companies and individuals that want to invest in them, he added.
A number of land lots were put up for sale in the new cities in Upper Egypt to build provincial-level service projects to meet the needs of residents, he also said, noting that these projects include commercial chains and universities.
Source: MENA

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