Arab Finance: The Egyptian government has received land allocations requests from real estate developers worth $500 million during August and September, Chairman of New Urban Communities Authority (NUCA) Walid Abbas told Asharq Business on September 20th.
Demand for land allocation requests has doubled over the past two months, reaching 629 requests for a total of 1,089 feddans, Abbas said on the sidelines of Cityscape 2023 in Cairo.
Abbas added that NUCA has allocated land plots worth about $2.5 billion through 3,584 requests during the first seven months of this year.
He also revealed that the authority plans to invest EGP 200 billion from 2023 to 2027.
NUCA will launch a new digital platform in October for registering real estate developers.