Four industrial property developers have been awarded more than 1.8k feddans of land in New October Citythrough the New Urban Communities Authority’s (NUCA) new online bidding system, Hapi Journalreports, citing sources it says are in the know.

The players: Our friends at Industrial Development Group (IDG), Elsewedy Industrial Development, PolarisParks, and CPC Egypt Industrial Development were each awarded plots, the newspaper says, without specifying how the companies plan to use the allocated land.

More to come: NUCA agreed earlier this month to allocate some 12 mn square meters in four cities — New October, New Fayoum, New Alamein, and New Aswan — to industrial developers who placed bids through the authority’s online portal.

The government is on a drive to boost domestic industry: The new platform for buying and selling land and efforts to increase the use of golden licenses are among policies launched in recent months to streamline project approvals and stimulate industrial investment.

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