{"id":575216,"date":"2020-10-06T04:07:52","date_gmt":"2020-10-06T04:07:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/real-estate-developers-face-higher-solvency-requirements-for-land-allocation\/"},"modified":"2020-10-06T04:07:52","modified_gmt":"2020-10-06T04:07:52","slug":"real-estate-developers-face-higher-solvency-requirements-for-land-allocation","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/real-estate-developers-face-higher-solvency-requirements-for-land-allocation\/","title":{"rendered":"Real estate developers face higher solvency requirements for land allocation"},"content":{"rendered":"<p>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), <a href=\"https:\/\/bit.ly\/2Gfh7ND\">Al Mal<\/a> reports. NUCA currently requires investors to make a 10% \u201ccommitment deposit\u201d within a 30-day notice window (or 60 days if paying in USD) under the <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/19\/egypt-to-begin-tendering-land-under-new-mechanism\/\">new land allocation mechanism introduced last year<\/a> for mixed-use developments in new communities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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% \u201ccommitment deposit\u201d within a 30-day notice window [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[9304],"tags":[72,879,83,2402],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575216","post","type-post","status-publish","format-standard","hentry","category-real-estate-housing","tag-enterpriseam","tag-new-urban-communities-authority","tag-real-estate","tag-real-estate-housing","wpautop","entry"],"acf":{"mongo_id":"ac0e7d15-bff7-4889-9faf-a46be2861aaf","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[575191],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Real estate developers face higher solvency requirements for land allocation - 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\/2020\/10\/06\/real-estate-developers-face-higher-solvency-requirements-for-land-allocation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Real estate developers face higher solvency requirements for land allocation\" \/>\n<meta property=\"og:description\" content=\"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% \u201ccommitment deposit\u201d within a 30-day notice window [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/real-estate-developers-face-higher-solvency-requirements-for-land-allocation\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-06T04:07:52+00:00\" \/>\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<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/real-estate-developers-face-higher-solvency-requirements-for-land-allocation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/real-estate-developers-face-higher-solvency-requirements-for-land-allocation\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Real estate developers face higher solvency requirements for land allocation\",\"datePublished\":\"2020-10-06T04:07:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/real-estate-developers-face-higher-solvency-requirements-for-land-allocation\/\"},\"wordCount\":84,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"New Urban Communities Authority\",\"real estate\",\"Real Estate + Housing\"],\"articleSection\":[\"Real Estate + Housing\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/real-estate-developers-face-higher-solvency-requirements-for-land-allocation\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/real-estate-developers-face-higher-solvency-requirements-for-land-allocation\/\",\"name\":\"Real estate developers face higher solvency requirements for land allocation - 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Mixed use plots have been priced at EGP 9,870 per sqm while commercial plots are priced at EGP 30.4k per sqm.","rel":"","context":"In &quot;Real Estate + Housing&quot;","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":595647,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/01\/egypts-nuca-allocates-egp-16-bn-land-to-new-city-investor\/","url_meta":{"origin":575216,"position":1},"title":"Egypt\u2019s NUCA allocates EGP 16 bn land to new city investor","author":"enterpriseam admin","date":"1 August 2019","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Real Estate + Housing&quot;","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":593833,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/10\/nuca-offers-land-plots-worth-egp-35-5-bn-to-investors\/","url_meta":{"origin":575216,"position":2},"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 &quot;Real Estate + Housing&quot;","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":598513,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/27\/nuca-to-offer-85-feddans-of-land-near-new-cairo-reclaimed-from-al-marasem\/","url_meta":{"origin":575216,"position":3},"title":"NUCA to offer 85 feddans of land near New Cairo reclaimed from Al Marasem","author":"enterpriseam admin","date":"27 May 2019","format":false,"excerpt":"The New Urban Communities Authority will offer an 85-feddan land plot near New Cairo reclaimed from Al Marasem International for Development to real estate developers in 2H2019, a source from the New Cairo City Authority said. Al Marasem, a Bin Laden Group subsidiary, asked the authority to take back the\u2026","rel":"","context":"In &quot;Real Estate + Housing&quot;","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":599605,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/03\/nuca-to-hike-land-prices-by-15-20-in-2019\/","url_meta":{"origin":575216,"position":4},"title":"NUCA to hike land prices by 15-20% in 2019","author":"enterpriseam admin","date":"3 January 2019","format":false,"excerpt":"The New Urban Communities Authority (NUCA) will raise its land prices by 15-20% in 2019, a government source said. 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