Egypt's New Urban Communities Authority approves $8.89bln budget for FY 2021/22

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The Board of Directors at the New Urban Communities Authority (NUCA) has approved the authority’s budget at EGP 140bn for fiscal year (FY) 2021/22.

The approval came during the board’s meeting chaired by Minister of Housing, Utilities and Urban Communities Assem El Gazzar.

The minister said that the budget will be directed for completing and starting the implementation of hundreds of thousands of housing units of various kinds in Egypt’s new cities. It will also be allocated towards utility projects and various projects in the New Administrative Capital (NAC).

NUCA Vice President Abdul Muttalib Mamdouh said that in the social housing project, the authority will implement 81,348 housing units and complete 35,000 housing units. Meanwhile, it will also start building 150,000 housing units in some cities.

In the Dar Misr and Janna projects, the implementation of 11,600 housing units will be completed, and the construction of 5,376 housing units will be continued. As for Sakan Misr, 720 units will be delivered and 1,272 units will remain under construction.

As for New Alamein, 17,631 housing units and the second sector of the Alamein University and the heritage city will be delivered. A total of 13,804 housing units, an iconic tower, an administrative tower, and a hotel tower will remain under construction, and 927 housing units and the third sector of the Alamein University will be initiated.

In the Maspero Triangle area development project, 936 housing units will be completed. With regard to the NAC, Mamdouh said that 14,602 housing units and 239 villas will be completed in the third residential district of Capital Residence.

This comes in addition to 22,007 housing units and 241 villas, which will be completed in the fifth residential district, entitled New Garden City.

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