Due to growing population that reached 95 million, the Ministry of Housing has offered lands for different community tranches to double the urban lands to meet the increases in population, according to Minister Mostafa Madbouly. Madbouly said that New Urban Communities Authority (NUCA) offered 12,000 feddans within a year for the private sector, which is a big offering over the past years. In Al Ahram Real Estate Investment conference held Monday, Madbouly noted that the government is obliged to provide lands that enable the absorption of population increase. Madbouly called the investors to diversify their project’s areas and to launch projects in other areas besides Greater Cairo and new cities. During the conference sessions, developers noted that the increase in land prices and interest rates are the main challenges facing the sector.

Source: Daily News Egypt October 02, 2017 16:52 UTC