14 companies request lands in 1.5 million feddans project

Fourteen companies submitted requests to acquire a total of 270,000 feddans as part of the 1.5 million feddans project, Chairman of the New Egyptian Countryside Development Company (NECD) Atter Hanoura said

The companies belong to Egypt, Saudi Arabia, UAE, Kuwait, Cyprus, Greece, and Spain. Their representatives visited the lands that were allocated to them to make the decision of closing the deal right away or asking to change.

The company will deliver 900,000 feddans in four main zones to investors within the next few months. Those zones are Farafra, Western Minya, Maghara southern Alamein, and Toshky. The lands will be delivered after operating facilities and paving roads.

Stretching over 600,000 feddans, the lands to be delivered in the areas of Maghara southern Alamein and Western Minya represent 60 percent of the total lands that have been offered over the past four years.

The remaining areas to be offered in tenders will vary between 250,000 and 300,000 feddans in Farafra and Toshky. Those will be available for both direct ownership and leasing. The prices in tenders will be set with regard to the place, type of land, and water used.

Deals of 550,000 feddans have been closed, and the company mulls adding new areas.