The Board of Directors of the New Urban Communities Authority (NUCA), chaired by Minister of Housing, Utilities, and Urban Communities, Eng. Sherif El-Sherbiny, has approved a six-month extension for companies and entities allocated land in new cities to complete their investment projects. This decision comes in response to the rising costs of construction materials and labor.
Conditions for the Extension
- Applies only to non-canceled land allocations.
- Requires full payment or rescheduling of outstanding dues.
- Companies must waive any legal claims against NUCA or city authorities.
- Exclusions: The extension does not apply to land allocated for National Housing Projects, Social Housing, Industrial Projects, or small residential plots.
The extension period will begin from the date of the announcement in national newspapers.