New Urban Communities Authority (NUCA) is aiming to register EGP26 billion business volume within the current year, NUCA’s Vice President Magdy Farahat revealed.
Farahat added in a keynote speech at ‘Builders of Egypt’ Cairo Conference on Wednesday that the business volume reached EGP13 billion during the first quarter through rolling out several number of new projects in the trade and administrative sectors in addition to the allocated residential plots.
In terms of the investors’ problems, Farahat asserted that NUCA succeeded in solving 12 investment problems through Cabinet’s formed committee including Housing Ministry, NUCA as well as some of sovereign entities such as Military justice which aims to solve all the problems and crises between the government and investors, NUCA is currently working to finalise all real estate new regulations.
Furthermore, the Authority is seeking to provide great opportunity for investment and the ways to deliver projects in less time alongside preserving the country’s rights in case of disputes and it is targeting to make regulations will be displayed by a large number of investors and developers.
