NUCA to roll out new PPP projects in Upper Egypt this month

The Egyptian government’s New Urban Communities Authority (NUCA) will be offering property developers new partnership projects in Upper Egypt this month, NUCA’s vice president Kamal Fahmy announced Sunday.

Fahmy, Vice President of NUCA’s City Development Affairs Section, said the new projects are part of the second phase of the government’s public-private partnership (PPP) programme.

In line with the NUCA’s development plan for Upper Egypt region, the projects will locate in new Upper Egyptian cities in; New Beni Suef, New Menya, New Assiut, and New Tiba, the official added.

The first stage of PPP projects was launched during Egypt’s Economic Development Conference held in Sharm El-Sheikh in March 2015.

NUCA has now a knowledge bank consisting all the details about the investor including the authority’s assessment, approvals to provide lands, and guarantees, Fahmy said.

Real estate investors are the government’s main partners in implementing its development schemes, NUCA official stated.