Tuesday 15/April/2025 – 11:27 PM
The Ministry of Housing, Utilities and Urban Communities continues to provide facilities and incentives to support investors in the real estate sector, as part of its keenness to reduce their burdens, and to provide innovative solutions that meet their increasing needs, in order to enhance the continuity of growth in this vital sector.
This support comes in response to repeated demands from the Chamber of Real Estate Development Industry in the Federation of Egyptian Industries, in addition to direct requests from a number of businessmen working in partnership projects with the state.
The Ministry stressed that these facilities are part of its continuous efforts to support the real estate sector, which is one of the main engines of the national economy, as it contributes greatly to the gross domestic product, and is considered a basic pillar in urban development plans.
Renewed facilities after investor demand
In the middle of 2023, the Board of Directors of the New Urban Communities Authority agreed to grant a group of incentives and facilities to real estate developers for a year, and it was scheduled to be completed in the middle of 2024, but because of the great demand from investors, the ministry submitted a request to the Council of Ministers to extend the period of benefiting from these facilities to non -beneficiaries from the previous decision, and the tide was approved in July 2024.
7 incentives are ongoing until mid -2025
According to the decision of the Council of Ministers, facilities will continue until mid -2025, to be granted in accordance with specific controls and conditions that must be met in advanced companies.
The incentives include the following:
1. Allowing an increase in the building rate on lands designated for integrated, investment, mixed, and service urban activities.
2. The exploitation of the permitted constructive surfaces to serve the project.
3. Increasing the percentage of lands allocated to services within integrated urban projects.
4. Extending the duration of the implementation of projects by 20% of the original period stipulated in the contract, and this additional period includes the projects being implemented within the original or granted deadline in return for a financial fee.
5. Consider the implementation of 80% of the project is sufficient to recognize its achievement.
6. Determine the total value of the Earth’s piece, including all the burdens, and distribute it to the installments due.
7. Full exemption from the bonuses fees for the application of the heights system for service and investment lands.
