Cairo – Mubasher: Total investments of the New Urban Communities Authority (NUCA) amounted to EGP 26.6 billion during the first nine months of fiscal year 2017/2018, rising by EGP 11.6 billion from EGP 15 billion in the first half of the fiscal year.
NUCA is getting ready to launch EGP 85 billion projects in the coming fiscal year, compared to EGP 31.8 billion in the current fiscal year, sources at the Egyptian housing ministry told Alborsa News.
Housing projects have made up EGP 11.4 billion of the authority’s investments, distributed over EGP 5.1 billion in the low-income housing project, EGP 3.5 billion in Dar Misr project, and EGP 2.8 billion in Sakan Misr project, sources added.
NUCA had achieved revenues of EGP 36 billion in fiscal year 2016/2017 from the sales of land plots and residential units to different income segments.
NUCA’s investments totalled EGP 31.8 billion during the current fiscal year, distributed over projects of housing, facilities, infrastructure, and services.
The state-run authority seeks to boost investments to EGP 85 billion by the next fiscal year.
It is noteworthy that NUCA has allocated EGP 56 billion in investments for FY18/19, according to assistant to the housing minister Waleed Abbas.
