Cairo, Egypt – The Board of Directors of the New Urban Communities Authority (NUCA), chaired by Minister of Housing, Utilities, and Urban Communities, Eng. Sherif El-Sherbini, has approved a reduction in administrative fees for property transfers. This decision, aimed at easing the process for citizens and investors, applies to all pending applications that have not yet been reviewed by the subcommittees of local urban agencies. The results of the decision will be evaluated in six months, at which time the Board will decide whether to renew the policy.
Minister El-Sherbini explained that the approval includes a 50% reduction in transfer fees for six months following the announcement in daily newspapers. This applies to customers applying to new city authorities to transfer residential, professional, administrative, commercial units, and various types of land (residential, commercial, integrated urban, etc.) allocated by NUCA. The decision is in line with the real estate regulations and rules governing such transfers.
However, the Minister noted that this reduction does not apply to integrated urban development projects in the North Coast region, nor to the first three generations of new cities, with the exception of Upper Egypt cities, as per NUCA’s Board decision No. 189, dated April 1, 2024.
Furthermore, if clients complete the property registration process with the Real Estate Registration Authority within one year from the announcement date, they will be eligible for an increased reduction of 70% instead of 50%. This will be subject to financial settlement upon verification of the registration.
The Minister emphasized that the increased reduction for those who register within the year aligns with the state’s goals under Law No. 27 of 2018, which governs real estate registration in new urban communities. This initiative aims to document the country’s real estate assets and protect individual ownership rights.
