The Board of Directors of the New Urban Communities Authority (NUCA), under the leadership of Engineer Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, has approved significant financial relief measures. These measures include a 70% reduction in late payment penalties on overdue installments, provided that all outstanding payments are settled in full. The relief applies to a variety of properties, including residential, administrative, and professional units, commercial stores, and plots of land of various types and sizes (residential, commercial, service, investment, industrial), as well as villas and beachfront units developed by the authority. This relief will be available for two months following its announcement in daily newspapers.
Eligibility Criteria and Exclusions
Minister Sherif El-Sherbiny clarified that these relief measures apply to certain cases: properties with ongoing allocations and cases where decisions of cancellation due to non-payment have been issued but the properties remain in the client’s possession and have not been reclaimed by the authority. The relief is subject to conditions, including adherence to specified implementation timelines and the withdrawal of any legal actions against the authority or its entities.
Dr. Walid Abbas, Deputy Chairman of NUCA for Planning and Projects and supervisor of the Minister’s Office, added that the relief does not extend to lands allocated under partnership agreements or to lands that have been canceled or reclaimed and are now in the authority’s possession. Additionally, the relief does not cover amounts due for completing advance payments.
Minister’s Meeting with City Edge Developments
In a separate meeting, Minister Sherif El-Sherbiny met with officials from City Edge Developments to discuss strategies to enhance the company’s role as a key arm of the Ministry of Housing in real estate development and marketing. The meeting was attended by Engineer Amin Ghoneim, Deputy Chairman of NUCA for Development and City Development, Engineer Ahmed Moussa, Assistant Deputy Chairman of NUCA for Planning and Projects, and Engineer Amr Khattab, General Manager in the Minister’s Technical Office.
During the meeting, a detailed presentation was given on City Edge’s plans for managing, operating, and marketing several residential, commercial, administrative, and entertainment projects developed by the Ministry of Housing. These projects include the “Zahia” project in New Mansoura, the “Mazarine” compound in New Alamein, the Fifth Residential District “Garden City” in the New Administrative Capital, and the “Fustat Hills Park” project in Cairo, among others.
