NUCA to deliver land plots for small investors in December

CAIRO – 23 November 2017: The New Urban Communities Authority (NUCA) will deliver land plots to small-sized investors in New Cairo in December, Minister of Housing Mostafa Madbouly said Thursday.

These investors have submitted bids for the land plots under an initiative to encourage small investors. Head of New Cairo City Council Mostafa Fahmy said that investors pay 50 percent of the land value after delivery.

The bids usually include feasibility, financial and economic studies, work schedule and brief on how the investor would access funds.

In June, the Industrial Development Authority (IDA) delivered contracts of 72 land plots to be used in the sectors of food industries, chemicals, engineering, textile and spinning, pharmaceuticals, mining and building materials.

Supporting development, the IDA gives priority to labor-intensive, local production, small and medium enterprises, new innovations, export, electricity, energy and renewable energy projects.