The Prime Minister follows up with the Minister of Housing on a number of the ministry’s projects and work files
Reviewing the mechanisms for offering and making land plots available in new cities for urban and service activities
Dr. Mostafa Madbouly, Prime Minister, met with Engineer Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities; This is within the framework of following up on a number of projects and work files that the Ministry is implementing during the current stage.
During the meeting, the Minister of Housing explained the mechanisms for offering and making land plots available in new cities; Whether for service or urban activities, as the Minister clarified in this regard the mechanisms for allocating investment opportunities in Egyptian pounds, as these investment opportunities in new cities with urban activities (except industrial and workshops) are offered on the investor services portal during the period from 1 – 15 every month for Egyptian companies, so that companies submit their applications to the opportunities and attach the complete documents required on the website, pointing out that all applications are currently being referred electronically to the competent committees of the New Urban Communities Authority, and approval is made (technically – financially – legally – real estate). Comparison sessions will be held in the event that there is more than one offer on the same lot, after which the winning company will be notified, the procedures will be completed, and the presentation will be presented to the Authority’s Board of Directors.
At the same time, the Minister also referred to the mechanisms for allocating investment opportunities in foreign currency from abroad for urban activities (except industrial and workshops) for foreign companies, as applications are received on the electronic portal from the 1st to the 7th of each month, and the differentiation is also carried out electronically after completing the papers and documents. During the meeting, the Minister of Housing presented to the Prime Minister the electronic portal (Invest in Egypt) in Arabic and English, pointing to the launch of the foreign investment portal as of the first of this October, through the Authority New urban communities, and starting to receive applications from foreign investors, noting that this portal is available 24 hours a day from outside Egypt, as the portal provides detailed application steps.
During the meeting, the Minister also explained the allocation mechanisms for investment opportunities with the receivables discount system, in addition to the allocation mechanisms for the cash and in-kind payment sales system, the offering mechanisms for major real estate developers and investors, and the conditions and controls for allocation to them.
Engineer Sherif El-Sherbiny also made another presentation about the lands available south of the international coastal road according to Republican Decree No. 361 of 2020, with a total area of 707,234.5 acres, referring in this regard to the results of the Inventory and Negotiation Committee for the northern coast (sea and tribal) until October 2024, with regard to the number of negotiation requests. And its total area.
- For more: Elrisala website and for social networking, you can follow us on Facebook
- Source of information and images “rosaelyoussef”“
