Real estate developers are now required to meet a minimum solvency test on land purchases worth more than EGP 1 bn for service and mixed-use projects under regulatory amendments issued by the New Urban Communities Authority (NUCA), Al Mal reports. NUCA currently requires investors to make a 10% “commitment deposit” within a 30-day notice window (or 60 days if paying in USD) under the new land allocation mechanism introduced last year for mixed-use developments in new communities.

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