In implementation of the directives of Eng. Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities, to support and strengthen investment and production activities in new cities and complete their development infrastructure, the Real Estate and Commercial Affairs Sector at the New Urban Communities Authority (NUCA) held a public auction at the headquarters of the 10th of Ramadan City Development Authority.
The auction covered the allocation of 11 industrial units (workshops) in the Small and Medium Industrial Complexes project in the Southern Developers Area, known as the “6 Million” area, within Complex A. The total value exceeded EGP 195 million, with each workshop covering an area of 702 square meters.
The offering of these units is part of the Ministry of Housing’s efforts to support industrial activities in new cities, provide new investment opportunities, and maximize the use of available industrial land and units. These efforts aim to increase employment and production rates and support economic development in 10th of Ramadan City.
Dr. Walid Abbas, Deputy Minister of Housing for Urban Communities, emphasized the importance of expanding the offering of investment opportunities and industrial activities in new cities. This approach helps attract more investment, create job opportunities, and strengthen the role of new cities as centers of production and economic development.
Dr. Ahmed Emara, Supervisor of the Real Estate and Commercial Affairs Sector at the New Urban Communities Authority, explained that investment units and opportunities are offered according to each city’s needs and development plans. He also stressed the importance of complying with the regulations and procedures governing public auctions to ensure procedural integrity and maximize the use of available assets.
For his part, Eng. Alaa Abdel-Lah Mostafa, Head of the 10th of Ramadan City Development Authority, affirmed that the city authority will continue to offer investment and industrial opportunities in succession, in line with the city’s development plans and needs. This will help support industrial activity, attract investment, and complete the requirements for integrated development in the 10th of Ramadan City.
The auction session was held in the presence of representatives from the State Council, the New Urban Communities Authority, the Ministry of Finance, and the Urban Communities Police, alongside officials from the 10th of Ramadan City Development Authority, in accordance with the legal and financial regulations and procedures governing public auctions.