{"id":562142,"date":"2021-05-09T03:57:51","date_gmt":"2021-05-09T03:57:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/deadline-for-compliance-with-north-coast-land-regs-extended-till-years-end\/"},"modified":"2021-05-09T03:57:51","modified_gmt":"2021-05-09T03:57:51","slug":"deadline-for-compliance-with-north-coast-land-regs-extended-till-years-end","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/deadline-for-compliance-with-north-coast-land-regs-extended-till-years-end\/","title":{"rendered":"Deadline for compliance with North Coast land regs extended till years end"},"content":{"rendered":"

Real estate developers have until the end of the year to <\/strong>settle their reconciliation<\/a><\/strong>fees<\/a><\/strong> to regularize the status of their North Coast developments<\/strong> with the New Urban Communities Authority (NUCA) after a 30 June deadline was extended, Al Shorouk<\/a> reports, citing unnamed sources in the know. Forty of the 90 companies a NUCA committee met with have paid the fee \u2014 equivalent to 5% of the initial value of the land \u2014 necessary to legalize their status, the sources said. Negotiations are expected to take place between the authority and the rest of the 400 real estate companies with developments along the Mediterranean coastline between Alexandria and Salloum \u2014 including top players such as Sodic, Emaar, and Palm Hills Developments. It remains unclear whether any of these companies have settled with NUCA. The payments follow a presidential directive last year to repurpose over 700 feddans in the West North Coast as part of the government\u2019s strategy to spearhead development<\/a> in the area.<\/p>\n

SPEAKING OF THE WESTERN NORTH COAST- New Ras Al Hikma City along the North<\/strong> Coast is expected to span 50k feddans<\/strong>, Al Shorouk<\/a> reports, citing unnamed Housing Ministry sources. The development of the city comes as part of the government\u2019s shift from a decades-old policy of making land available for vacation home development to instead pushing a development strategy that pushes new, integrated cities.<\/p>\n","protected":false},"excerpt":{"rendered":"

Real estate developers have until the end of the year to settle their reconciliationfees to regularize the status of their North Coast developments with the New Urban Communities Authority (NUCA) after a 30 June deadline was extended, Al Shorouk reports, citing unnamed sources in the know. Forty of the 90 companies a NUCA committee met […]<\/p>\n","protected":false},"author":1,"featured_media":562143,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7371],"tags":[72,879,2074,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-enterpriseam","tag-new-urban-communities-authority","tag-north-coast","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"71067d90-39ed-42e3-a13f-f78bdb396068","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/77.jpg","photo_position":"above","related_issue":[562120],"teaser":"","voice_url":""},"yoast_head":"\nDeadline for compliance with North Coast land regs extended till years end - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/deadline-for-compliance-with-north-coast-land-regs-extended-till-years-end\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deadline for compliance with North Coast land regs extended till years end\" \/>\n<meta property=\"og:description\" content=\"Real estate developers have until the end of the year to settle their reconciliationfees to regularize the status of their North Coast developments with the New Urban Communities Authority (NUCA) after a 30 June deadline was extended, Al Shorouk reports, citing unnamed sources in the know. Forty of the 90 companies a NUCA committee met […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/deadline-for-compliance-with-north-coast-land-regs-extended-till-years-end\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-09T03:57:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/77.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/deadline-for-compliance-with-north-coast-land-regs-extended-till-years-end\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/deadline-for-compliance-with-north-coast-land-regs-extended-till-years-end\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Deadline for compliance with North Coast land regs extended till years end\",\"datePublished\":\"2021-05-09T03:57:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/deadline-for-compliance-with-north-coast-land-regs-extended-till-years-end\/\"},\"wordCount\":233,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/deadline-for-compliance-with-north-coast-land-regs-extended-till-years-end\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/77.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"New Urban Communities Authority\",\"north coast\",\"real estate\"],\"articleSection\":[\"Real estate\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/deadline-for-compliance-with-north-coast-land-regs-extended-till-years-end\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/deadline-for-compliance-with-north-coast-land-regs-extended-till-years-end\/\",\"name\":\"Deadline for compliance with North Coast land regs extended till years end - 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Misr, and Palm Hills are among hundreds of real estate developers in talks over payments to regularize the status of their land on the North Coast under new regulations ratified by President Abdel Fattah El Sisi last year, Al Shorouk reports, citing unnamed government\u2026","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/297.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573220,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/26\/egyptian-court-overturns-nuca-decision-to-fine-qatari-diars-east-gate-egp-1-3-bn\/","url_meta":{"origin":562142,"position":1},"title":"Egyptian court overturns NUCA decision to fine Qatari Diar\u2019s East Gate EGP 1.3 bn","author":"enterpriseam admin","date":"26 July 2020","format":false,"excerpt":"DISPUTE WATCH- Court overturns NUCA decision to fine Qatari Diar\u2019s East Gate EGP 1.3 bn: The Council of State\u2019s (Maglis El Dawla) administrative court has overturned a decision from the New Urban Communities Authority (NUCA) to hand a EGP 1.3 bn fine to Qatari Diar subsidiary East Gate Developments over\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/200.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572540,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/29\/administrative-court-hands-down-landmark-ruling-in-real-estate-ma-case\/","url_meta":{"origin":562142,"position":2},"title":"Administrative Court hands down landmark ruling in real estate M&A case","author":"enterpriseam admin","date":"29 June 2020","format":false,"excerpt":"REGULATION WATCH- Administrative Court hands down landmark ruling in real estate M&A case: The Administrative Court has issued a ruling that any mergers or acquisitions between real estate joint stock companies have no legal bearing on these companies\u2019 legal status. The ruling \u2014 which accepted a case filed by Shahid\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593833,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/10\/nuca-offers-land-plots-worth-egp-35-5-bn-to-investors\/","url_meta":{"origin":562142,"position":3},"title":"NUCA offers land plots worth EGP 35.5 bn to investors","author":"enterpriseam admin","date":"10 October 2019","format":false,"excerpt":"The New Urban Communities Authority (NUCA) has tendered 26 mixed-use land plots worth EGP 35.5 bn in Sixth of October, Sheikh Zayed, New Cairo, and El Shorouk and Sadat cities under a new land tender mechanism, Housing Ministry sources told the press. In related news: NUCA has granted Al Arabia\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597472,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/28\/nuca-to-auction-5k-land-plots-in-18-new-cities-by-the-end-of-2019\/","url_meta":{"origin":562142,"position":4},"title":"NUCA to auction 5k land plots in 18 new cities by the end of 2019","author":"enterpriseam admin","date":"28 July 2019","format":false,"excerpt":"The New Urban Communities Authority (NUCA) is planning to auction 5k land plots in 18 new cities before the end of 2019, Housing Ministry sources told the local press. The authority, which is currently conducting an evaluation to determine the size of available land in new cities, has yet to\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575216,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/real-estate-developers-face-higher-solvency-requirements-for-land-allocation\/","url_meta":{"origin":562142,"position":5},"title":"Real estate developers face higher solvency requirements for land allocation","author":"enterpriseam admin","date":"6 October 2020","format":false,"excerpt":"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. 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