Six months grace period is about to start for construction projects in new cities of Egypt

Assem El-Gazzar, the Minister of Housing, stated that a grace period of six months has been granted for construction projects in new cities. The decision was approved by the New Urban Communities Authority (NUCA).

Hatem Mahmoud Hassan, Vice President of NUCA Real Estate and Commercial Affairs, stated that the additional period to be granted will be valid for projects allocated for real estate investment companies, unions, associations and authorities. The given period for the projects is applied for the lands that are given a grace period against a fee and remain valid from the date of announcement.