Egypt has invited investors for projects in housing, tourism and other sectors in Sheikh Zayed City in Cairo Governorate, a newspaper reported on Monday.

The New Urban Communities Authority (NUCA), an affiliate of the Housing Ministry, is offering nearly 270, 000 square metres of land in that area for such projects, the Arabic language daily Addustour said.

The offer stipulates that at least 50 percent of the land must be allocated for housing projects covering apartments, houses and villas, the paper said.

Nearly 10 percent of the area should be devoted to tourism, commercial, amusement and other projects while the rest could cover mixed-use investment activities, it said.

“The Authority announced that projects in that area must be completed within a period of 7 years from the date of commencement,” the report added.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)