Back to the complete issue
Tuesday, 23 June 2020

NUCA to ease payment terms, deadlines for new city investments

The New Urban Communities Authority will ease payment terms and deadlines for property developers and investors in new cities, Housing Minister Assem El-Gazzar said. Projects that are due to be delivered on or after 15 March 2020 will see their original completion deadlines stretched by 3 months. A grace period of at least six months will also be granted for land installment payments. The Trade Ministry’s Industrial Development Authority also issued a similar decision (pdf) for industrial investors.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2020 Enterprise Ventures LLC.