NUCA implements Housing Ministry’s FY 2014/2015 plan
A Ministry of Housing plan, assigned to the New Urban Communities Authority (NUCA) for the fiscal year (FY) 2014/2015, has been completely implemented at a cost of EGP 13bn, Minister of Housing Mostafa Madbouly announced in a statement Saturday.
Madbouly added that NUCA is currently connecting facilities to land parcels allocated during the previous FY, estimated at 50,000 acres.
“1,900 acres have been sold in the form of industrial lands in 10th of Ramadan City, and facilities are currently being connected. In addition, the facilities connection of other lands are being finalised but haven’t been allocated yet. These lands are estimated to be around 6,000 acres in the cities of New Burg Al-Arab, Sadat and 10th of Ramadan City,” Madbouly said.
Furthermore, NUCA deputy head Kamal Fahmy said facilities have been connected to 23,025 acres in all new cities.
These lands include 4,500 acres in 10th of Ramadan City, of which 3000 acres are for housing and services use and 1,500 acres are for industrial use. There are 432 acres in 15th of May City, of which 365 acres are for housing and 58 acres are for industrial use, and a further 1,850 acres for housing and services use in Sadat City, said Fahmy.
He further added that facilities connection is still in progress in numerous land acres in new cities such as 3,500 acres in 6th of October City, 2,629 acres in New Cairo, 3,613 acres in Burg Al-Arab City, 3,200 acres in Badr City, 650 acres in New Minya, 530 acres in New Damietta, and 116 acres in New Aswan.
Last April, Madbouly announced that NUCA’s budget will double during FY 2015/2016 to EGP 28bn. He added that the budget increase will be directed towards increasing partnerships with the private sector, to help implement a significant amount of the authority’s projects and stimulate the real estate sector