The New Urban Communities Authority (NUCA) has allocated EGP 16-bn worth of land plots under a new land tender mechanism that allocates land directly to investors, a source from the Housing Ministry told the press. A total of 170 companies made the 10% down payment specified by the new mechanism and were allocated 170 land plots in new cities. The Madbouly Cabinet outlined in June the new regulatory framework to handle requests for the allocation of land for mixed-use projects.

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