The Ministry of Housing, Utilities, and Urban Communities announced the activation of an electronic wallet system for companies registered on the Foreign Investment Portal of the New Urban Communities Authority (NUCA), effective Thursday, September 17, 2026, in accordance with NUCA Board of Directors Resolution No. (217 of 2026).
Engineer Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities, stated in a press release that creating an independent electronic wallet for each company registered on the Foreign Investment Portal represents an important step in developing mechanisms for dealing with companies and facilitating procedures for transferring and approving their financial amounts.
This contributes to improving the efficiency of the Authority’s foreign investment system. The Housing Minister explained that the new system provides each company with an independent code for its electronic wallet. The wallet will be used to receive all bank transfers made through the “SWIFT” system for the company.
Engineer Randa El-Menshawy added that activating this system aims to organize the mechanism for handling companies’ financial transfers and ensure that transferred amounts are directed through their designated channel. This helps reduce the possibility of delays or issues when approving these amounts.
For his part, Dr. Walid Abbas, Deputy Minister of Housing for Urban Communities, explained that each company registered on the Foreign Investment Portal will have an electronic wallet with a unique and independent code. He confirmed that the wallet is funded by transferring the value of the “SWIFT” to the electronic wallet code assigned to the company, rather than to the codes used to reserve land plots.
The Deputy Minister of Housing noted that the Authority will begin receiving transfers through electronic wallets starting September 17, 2026. The Authority has set October 31, 2026, as the deadline for funding the wallets and approving SWIFT transfers in them for use in the first upcoming offering. SWIFT transfers made after October 31, 2026, can be used in subsequent offerings.
Dr. Ahmed Emara, Supervisor of the Real Estate and Commercial Affairs Sector at the New Urban Communities Authority, explained that the electronic wallet balance will become available for use in offerings starting with the November 2026 offering, in accordance with the new mechanism approved by the Authority.
Dr. Ahmed Emara emphasized the importance of all companies registered on the Foreign Investment Portal complying with the requirement to make SWIFT bank transfers using their electronic wallet code and avoiding transfers to land plot reservation codes. This is intended to prevent any delays or issues in approving the transferred amounts.
The New Urban Communities Authority calls on all companies registered on the Foreign Investment Portal to review their electronic wallet codes and comply with the new mechanism and the specified funding and approval deadlines. This will ensure that wallet balances are ready for use in offerings starting with the November 2026 offering.
Key Dates for Activating the System
- September 17, 2026: Start of receiving transfers through electronic wallets.
- October 31, 2026: Deadline for funding the wallets and approving SWIFT transfers for use in the first upcoming offering.
- November 2026 offering: Electronic wallet balances become available for use in offerings.