New Urban Communities Authority Offers 70% Reduction on Late Payment Penalties

Dr. Hassan El-Shorbagi, Vice President of the New Urban Communities Authority (NUCA) for Real Estate and Commercial Affairs, announced a significant facilitation in the payment of outstanding dues. A 70% reduction on late payment penalties will be granted for residential, administrative, professional units, commercial stores, and various types of land (residential, commercial, service, investment, industrial, etc.), as well as villas and beachfront units developed by NUCA. This offer is valid for two months from the date of the announcement in daily newspapers and applies to cases where the full outstanding amounts are settled.

Dr. El-Shorbagi clarified that these facilitation measures apply to ongoing allocations, as well as cases where contracts were canceled due to non-payment but the units or land remain in the client’s possession and have not been repossessed by the authority. The facilitation is subject to specific conditions, including adherence to the scheduled implementation timelines and the withdrawal of all legal claims against NUCA or its affiliated authorities.

However, these benefits do not apply to land allocated under partnership agreements, lands that have been repossessed by the authority, or amounts due as part of the completion of down payments.