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.