Egypt’s Prime Minister Moustafa Madbouli underscored on Thursday the strategic role of the New Urban Communities Authority (NUCA) in driving urban development and providing housing solutions for all income groups.
He noted that the state is keen to ensure that NUCA fulfills its objectives and continues to play its pivotal role as a key pillar supporting the national economy.
This includes maximising the utilisation of assets owned by NUCA and the authorities of new cities, whether land or real estate units, while enhancing partnerships with the private sector in project implementation.
Madbouli made the remarks during a meeting with Minister of Housing, Utilities and Urban Communities Randa El-Menshawy to review NUCA development projects and their implementation rates.
During the meeting, El-Menshawy presented a detailed overview of NUCA’s major projects in various new cities, covering housing, infrastructure, utilities and services.
She highlighted the delivery rates of completed housing units across different price categories and emphasised adherence to high standards of construction and finishing.
She also reviewed marketing and promotion efforts aimed at increasing occupancy rates, maximising returns on investments and ensuring the long-term sustainability of development projects.
El-Menshawy also introduced a proposed “rent-to-own” housing programme, a financing model that allows tenants to occupy housing units through periodic rental payments with the option of acquiring ownership at the end of the contract.
“This initiative aims to regulate the real estate market, support vulnerable groups and provide diverse housing solutions that meet the needs of all segments of society,” the minister said.
She further presented detailed plans for the first phase of the programme, including the distribution of housing units across Greater Cairo, Alexandria, the Delta and Upper Egypt.
The units will vary in size to suit different needs, alongside future expansion plans to broaden access to affordable housing.
