Saturday 24/May/2025 – 07:11 am
The Board of Directors of the New Urban Communities Authority, in his session headed by Eng. Sherif El -Sherbiny, Minister of Housing, Utilities and Urban Communities, agreed to extend the incentive and previous facilities of the previous issuance by the decisions of the Board of Directors of the Authority in session No. 191 dated 16/20/2024 for various investment projects in new cities for land with activities (integrated urban / urban investment “mixed urban” / various service activities) for one year, In line with the state’s policy in supporting investment and motivating investors.
Conditions for obtaining incentives and facilities for investment projects after a decision to provide them with a year
The incentives and facilities are valid in accordance with the following controls: Salama, the full plot of the plot of land (financial -real estate -executive -legal), and that the company has committed to the time specified for payment and receipt, etc. 2024.
Real estate investment companies are allowed to take advantage of facilities (if they are applied) at any time and without adherence to a certain period as long as the following is achieved: companies are applying during the period of validity of facilities, and the duration of the original project implementation and added periods are valid at the time of submitting the application.
The Authority’s Board of Directors also approved the continuation of the work of the Cabinet’s decision in its 22nd session in the flow of the Council of Ministers in its session No. 290 held on 5/15/2024 with approval that the interest applied to the installments of real estate developers and investment projects (real estate – agricultural – tourist – etc.) in new cities and all state agencies by 15% to confront the burden of financing of facilities for these lands even 5/15/2025, for another year ending on 15/5/2026, provided that the offer is presented to the Council of Ministers to consider approval of what was stated in this decision.
