In implementation of the directives of Eng. Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities, to accelerate the operation of housing projects in new cities while providing the various services and commercial activities needed by residents, the Real Estate and Commercial Affairs Sector at the New Urban Communities Authority (NUCA) held two public auction sessions at the headquarters of the 10th of Ramadan City Development Authority and the New Minya City Development Authority.
The auctions resulted in the allocation of 20 commercial shops, two basements, and one administrative unit in the 10th of Ramadan and New Minya cities. These commercial and service opportunities are being offered as part of ongoing efforts to complete the development infrastructure of new cities, provide activities that meet residents’ needs, support the operation of commercial locations, and maximize the use of available assets in line with urban expansion and growth rates.
Dr. Walid Abbas, Deputy Minister of Housing for New Urban Communities, emphasized that providing commercial and service activities is an essential element in completing the development system in new cities. This contributes to meeting residents’ needs, encouraging people to settle and establish permanent homes, and supporting the sustainability of new urban communities.
Dr. Ahmed Emara, Supervisor of the Real Estate and Commercial Affairs Sector at NUCA, explained that commercial shops and service activities are offered according to each city’s needs and occupancy rates. He added that public auctions are conducted in compliance with the applicable regulations to ensure proper procedures, maximize the use of available assets, and create new investment opportunities.
The two auction sessions were held in the presence of representatives from the State Council, the New Urban Communities Authority, the Ministry of Finance, and the Urban Development Police, alongside officials from the 10th of Ramadan City Development Authority and the New Minya City Development Authority. The auctions were conducted in accordance with the legal and financial regulations governing public auctions.
For his part, Eng. Alaa Abdel-Lah Mostafa, Head of the 10th of Ramadan City Development Authority, explained that the public auction session held by NUCA’s Real Estate Committee at the authority’s headquarters resulted in the allocation of 12 shops across various commercial markets in the city. The shops ranged in area from 14 to 59 square meters.
Eng. Mohamed El-Ezouni, Head of the New Minya City Development Authority, also announced that the public auction resulted in the allocation of eight commercial shops across various commercial markets in the city, with areas ranging from 20 to 133 square meters, in addition to one administrative unit and two basements.