The New Urban Communities Authority (NUCA) will offer four pieces of land, ranging between 2,900sqm and 14,200sqm in a closed tender public bidding in Sheikh Zayed.
Another 155sqm will be offered in New Cairo, state-television reported. The land parcels will be offered on a usufruct basis for three years.
Head of the Development Authority at Sheikh Zayed City, Gamal Talaat, said that the offered land will be used for commercial purposes, such as restaurants and social activities.
Head of the Development Authority in New Cairo, Alaa Abd El-Aziz, noted the land will be used to build copy-centres and cafeterias.
In November, NUCA issued seven tenders for development projects in different cities across Egypt. The authority’s vice president, Kamal Fahmy, said that four tenders were issued by the local authorities in New Qena and another two in New Tayba, located in the Red Sea governorate. The last project tender was located in Sadat City, which is one of the largest industrial cities in Egypt.
Last month, during his visit to the UAE, President Abdel Fattah Al-Sisi was informed by UAE Minister of State Sultan Al-Jaber that Arabtec’s 1m residential-unit project will commence with 120,000 units this month.
The project will be implemented in four stages over the next five years. The $40bn project will be built at 13 locations across Egypt, with the first homes to be delivered in early 2017. Arabtec will provide the NUCA with the housing units and public services. The ownership of the project will then transfer to the concerned authorities upon completion.
Source: Daily News Egypt
