Engineer Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities and Chairman of the New Urban Communities Authority (NUCA), held a meeting yesterday with NUCA officials to review the agency’s ongoing projects, financial inflows, and expenditures. The discussion focused on the progress of urban development in new cities and the financial management of ongoing projects.
During the meeting, El-Sherbiny highlighted the results of various mechanisms used to offer land and investment opportunities in new cities for both local and foreign investors. He discussed proposals for improving and modernizing these mechanisms to maximize the authority’s benefits and accelerate the pace of development in new urban areas, including the status of public-private partnership projects.
The minister stressed the importance of continuing efforts to create more investment opportunities and make the best use of land and residential units available through NUCA. This will enhance the growth of new cities, provide essential services, increase their attractiveness, and boost occupancy rates.
El-Sherbiny also announced plans to hold regular meetings under his leadership to closely monitor the authority’s work and ensure the development of new cities progresses efficiently. He emphasized the role of NUCA as a critical entity in driving Egypt’s urban expansion and economic growth.
Dr. Walid Abbas, NUCA’s Vice President for Planning and Projects and the minister’s advisor, presented detailed proposals for improving the authority’s strategies for attracting investments, whether from domestic investors or foreign investors in foreign currency from abroad.