ArabFinance: Egypt’s New Urban Communities Authority (NUCA) will reduce the fine imposed on late payment of dues for two months starting June 4th, according to the housing minister Assem el Gazzar’s announcement on June 2nd.

Full exemption will be carried out in the case of complete payment of dues for residential, administrative, vocational units as well as residential and industrial land plots, villas, commercial outlets, and beach units.

Meanwhile, the fine will be reduced by 70% in case of disbursing 75% of the dues.

In addition, when paying 50% or 25% of the dues, the amount of the fine will be decreased by 45% or 20%, respectively.

El Gazza noted that the two-month facilities are applied to properties in NUCA’s newly built cities.

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