The New Urban Communities Authority will ease payment terms and deadlines for property developers and investors in new cities, Housing Minister Assem El-Gazzar said. Projects that are due to be delivered on or after 15 March 2020 will see their original completion deadlines stretched by 3 months. A grace period of at least six months will also be granted for land installment payments. The Trade Ministry’s Industrial Development Authority also issued a similar decision (pdf) for industrial investors.

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