Hous­ing min­is­ter re­veals NUCA’s 2018/19 plan to of­fer res­i­den­tial, ser­vice lands

The Daily News Egypt - - Front Page - By Shaimaa ElAiss

Min­is­ter of Hous­ing, Util­i­ties, and Ur­ban Com­mu­ni­ties Mostafa Mad­bouly in­au­gu­rated on Wednesday the Cityscape Egypt Real Es­tate Ex­hi­bi­tion, held at the Egypt In­ter­na­tional Ex­hi­bi­tion Cen­tre in New Cairo, in the pres­ence of ma­jor real es­tate de­vel­op­ers.

Mad­bouly stressed the im­por­tance of the real es­tate in­vest­ment sec­tor in push­ing the coun­try’s eco­nomic growth. He said that Egypt has a large mar­ket with a huge pop­u­la­tion of 100 mil­lion peo­ple, so the state is work­ing on stim­u­lat­ing do­mes­tic and for­eign in­vest­ments in the sec­tor.

He pointed out that the Cityscape Ex­hi­bi­tion is ex­pand­ing each year due to the grow­ing num­ber of real es­tate projects, adding that such ex­hi­bi­tions al­low a good op­por­tu­nity for each com­pany to pro­mote its prod­ucts.

Regarding the part­ner­ship projects be­tween the pub­lic and pri­vate sec­tor, Mad­bouly praised the suc­cess of the ini­tia­tive, point­ing out that a num­ber of the projects pre­sented at the ex­hi­bi­tion came as a re­sult of the first phase of part­ner­ship con­tracts be­tween the min­istry and the pri­vate sec­tor. He added that the min­istry is cur­rently eval­u­at­ing bids for the sec­ond phase of part­ner­ship con­tracts, re­veal­ing that the min­istry will launch the third phase af­ter an­nounc­ing the sec­ond phase’s re­sults.

Mad­bouly re­vealed the New Ur­ban Com­mu­ni­ties Author­ity (NUCA)’s plan to of­fer plots of land for res­i­den­tial and ser­vice projects in fis­cal year 2018/2019. He said that the new plan will in­clude of­fer­ing a his­tor­i­cal num­ber of land plots and res­i­den­tial units.

The min­is­ter an­nounced that more than 75,000 plots of land will be of­fered for res­i­den­tial and ser­vice projects in new cities.

Mad­bouly added that about 100,000 hous­ing units are to be launched in new cities grad­u­ally, most of which are part of the Dar Misr and Sakan Misr hous­ing projects. Other units will be of­fered in the cities of New Man­soura and New Alamein, as well as the New Ad­min­is­tra­tive Cap­i­tal.

The an­nounce­ment was made at Cityscape Egypt Real Es­tate Ex­hi­bi­tion’s launch

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