The Board of Directors of the New Urban Communities Authority (NUCA), during its meeting chaired by Engineer Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, approved the extension of financial settlement facilitation.
These facilitations include a 70% exemption from late payment penalties on due installments, provided that the full outstanding amount is paid. This exemption applies to residential, administrative, and professional units, commercial stores, and plots of land of various types and sizes (residential, commercial, service, investment, industrial, and others), in addition to villas and coastal units established by the authority. The extension will be valid for two months from the end of the previous deadline.
Engineer Sherif El-Sherbiny clarified that these facilitations apply to the following cases: allocations that are still valid and cases where cancellation decisions were issued due to non-payment but the property remains in the client’s possession and has not been repossessed by the authority. The exemptions are granted under specific conditions, including adhering to the scheduled implementation deadlines and waiving any legal claims against the authority or its agencies.
Engineer Amin Ghoneim, Deputy Chairman of NUCA for Real Estate and Commercial Affairs, stated that these facilitations do not apply to partnership-based allocated lands or lands that have been canceled, repossessed, and are now under the authority’s management. Additionally, these exemptions do not cover amounts due for completing the value of down payments.
