The Ministry of Housing, Utilities, and Urban Communities held the Al-Ahram Real Estate Exhibition from 28 to 31 July, in which 100 projects from various developers were showcased.
The exhibition was organised by Al-Ahram Foundation in Nasr City under the slogan ‘Your property is everywhere’ and included the participation of 30 major real estate development companies offering various residential, commercial, administrative, and medical projects in the New Administrative Capital (NAC), Fifth Settlement, North Coast, Ain Sokhna, and other regions across the country with great discounts and accommodating payment plans.
The exhibition was inaugurated by Waleed Abbas — The Deputy Minister of Housing and Supervisor of the New Urban Communities Authority’s (NUCA) Planning and Projects Sector — on behalf of the housing minister and other stakeholders.
During his speech, Abbas noted the large urban development that Egypt is currently witnessing, the Land Offering Policy, the Immediate Allocation System that allowed the emergence of many distinguished companies, all of which have gained much experience and confidence and are capable of establishing various projects using smart building technologies.
He added that the establishment of fourth generation cities began in 2014 and that there are now 39 of these cities with an area of about 1.7m feddans that will accommodate about 35 million people upon their completion, effectively doubling the country urbanised areas to 14% of its total area.
Furthermore, Abbas pointed out that since the allocation mechanism was approved in the middle of 2019, 2,931 plots of land with an area of 21,850 feddans have been allocated with investments exceeding EGP 1.1bn and about 8.5m jobs have been created.
Additionally, since 2014, about 1,075 ministerial approvals have been issued for lands with a total area of 235,000 feddans and about 800,000 housing units — for social and housing purposes — have been provided through the Dar Misr and Janna Projects.
Moreover, the NUCA has received 1,603 applications for 671 plots of lands with a total area of 2,416 feddans in the first half (1H) of 2022, he pointed out, elaborating that 40% of the value of these plots of land will be paid in USD and that they will create more than 1.3m job opportunities.