Egypt will launch the first phase of a bunch of new land plots for investments in New El Alamein, northwest of Cairo, and New Mansoura cities within April 2018, assistant to Housing Minister said Thursday.
In August 2017, Egyptian President Abdel Fattah al-Sisi issued a decree establishing a new city in Mansoura, 128km north of Cairo in the Nile Delta.
The decree approved the re-allocation of 5,104 feddans or 21.4 million square metres of the state-owned lands to the New Urban Communities Authority to be used in establishing a new urban community, the New Mansoura City.
The Ministry of Housing is expected to launch more projects by the county’s New Urban Communities Authority (NUCA) in partnership with developers, Khaled Abbas further added at Cityscape Egypt Business Breakfast.
Cityscape Egypt, which is the largest and most prominent real estate event, will take place at Cairo International Convention and Exhibition Centre (CICC) on March 28-31.
“The ministry plans to launch new investment land plots in West Assiut and New Qena cities within the upcoming period,” Abbas stated, referring that this comes as part of the state’s scheme to develop Upper Egypt region.
The ministry has finalised around 600 social housing units, the Egyptian official said, elaborating that 260 new units will be completely executed within the county’s social housing project at the end of 2018.