{"id":599140,"date":"2019-06-19T04:00:23","date_gmt":"2019-06-19T04:00:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/19\/egypt-to-begin-tendering-land-under-new-mechanism\/"},"modified":"2019-06-19T04:00:23","modified_gmt":"2019-06-19T04:00:23","slug":"egypt-to-begin-tendering-land-under-new-mechanism","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/19\/egypt-to-begin-tendering-land-under-new-mechanism\/","title":{"rendered":"Egypt to begin tendering land under new mechanism"},"content":{"rendered":"

REGULATION WATCH- Cabinet outlines new land tender mechanism for mixed-use developments in new communities: <\/b>The Madbouly Cabinet outlined in a statement on Monday<\/a> the New Urban Communities Authority\u2019s (NUCA) new regulatory framework<\/a> to handle requests for the allocation of land for mixed-use projects. Under the mechanism, two NUCA-commissioned departments will begin selecting land available for new city investors. This came as Prime Minister Moustafa Madbouly instructed the government last month<\/a> to offer \u201cas many industrial land plots as possible.\u201d NUCA\u2019s board of directors approved the framework last this past March<\/a>, and Housing Minister Assem El Gazar gave a rundown of its specifics then.<\/p>\n

What are the new regs? <\/b>The framework will require NUCA to allocate land based on both investor preference and each city or town\u2019s development priorities. It will mandate a specialized committee to determine and continuously update land prices. Land allocation requests will also have to be accompanied by feasibility and solvency studies, and investors will be required to make a 10% \u201ccommitment deposit\u201d within a 30-day notice window (or 60 days if paying in USD). Investors who back out will lose half of their deposits. The new rules will prioritize USD payments.<\/p>\n","protected":false},"excerpt":{"rendered":"

REGULATION WATCH- Cabinet outlines new land tender mechanism for mixed-use developments in new communities: The Madbouly Cabinet outlined in a statement on Monday the New Urban Communities Authority\u2019s (NUCA) new regulatory framework to handle requests for the allocation of land for mixed-use projects. Under the mechanism, two NUCA-commissioned departments will begin selecting land available for […]<\/p>\n","protected":false},"author":1,"featured_media":599141,"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":[8572],"tags":[7097,72,125,879,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-development","tag-enterpriseam","tag-investment-watch","tag-new-urban-communities-authority","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"0700d18f-6dec-4ec8-bad6-d619feafdc35","is_powered_by":true,"section_story_id":"481ec635-fa58-4aaf-98b3-c1dfb6f59c12","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/6\/2157.jpg","photo_position":"above","related_issue":[599123],"teaser":"","voice_url":""},"yoast_head":"\nEgypt to begin tendering land under new mechanism - 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\/2019\/06\/19\/egypt-to-begin-tendering-land-under-new-mechanism\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt to begin tendering land under new mechanism\" \/>\n<meta property=\"og:description\" content=\"REGULATION WATCH- Cabinet outlines new land tender mechanism for mixed-use developments in new communities: The Madbouly Cabinet outlined in a statement on Monday the New Urban Communities Authority\u2019s (NUCA) new regulatory framework to handle requests for the allocation of land for mixed-use projects. Under the mechanism, two NUCA-commissioned departments will begin selecting land available for […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/19\/egypt-to-begin-tendering-land-under-new-mechanism\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-19T04:00:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/2157.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\/2019\/06\/19\/egypt-to-begin-tendering-land-under-new-mechanism\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/19\/egypt-to-begin-tendering-land-under-new-mechanism\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt to begin tendering land under new mechanism\",\"datePublished\":\"2019-06-19T04:00:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/19\/egypt-to-begin-tendering-land-under-new-mechanism\/\"},\"wordCount\":204,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/19\/egypt-to-begin-tendering-land-under-new-mechanism\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/2157.jpg?fit=%2C&ssl=1\",\"keywords\":[\"development\",\"EnterpriseAM\",\"investment watch\",\"New Urban Communities Authority\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/19\/egypt-to-begin-tendering-land-under-new-mechanism\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/19\/egypt-to-begin-tendering-land-under-new-mechanism\/\",\"name\":\"Egypt to begin tendering land under new mechanism - 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A total of 170 companies made the 10% down payment specified by the new mechanism\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":602063,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/18\/egypts-nuca-issues-new-regulations-for-land-allocation-process\/","url_meta":{"origin":599140,"position":1},"title":"Egypt\u2019s NUCA issues new regulations for land allocation process","author":"enterpriseam admin","date":"18 March 2019","format":false,"excerpt":"REGULATION WATCH- NUCA issues new regulations governing how land is allocated: The New Urban Communities Authority (NUCA) has approved a new regulatory framework for how land is allocated to investors for service and mixed-use projects, Housing Minister Assem El Gazzar said. Under the new regulations, NUCA will be required to\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":575216,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/real-estate-developers-face-higher-solvency-requirements-for-land-allocation\/","url_meta":{"origin":599140,"position":2},"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. NUCA currently requires investors to make a 10% \u201ccommitment deposit\u201d\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":564069,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/05\/tourism-topped-the-madbouly-cabinets-meeting-agenda-this-week\/","url_meta":{"origin":599140,"position":3},"title":"Tourism topped the Madbouly cabinet\u2019s meeting agenda this week","author":"enterpriseam admin","date":"5 August 2021","format":false,"excerpt":"TDA under new management? The Madbouly cabinet is placing the Tourism Development Authority (TDA) under the purview of the Housing Ministry, transferring its administration from the Tourism Ministry, according to a cabinet statement today. Consequently, the TDA\u2019s board will be reshuffled, with the Housing Minister being made chairman of the\u2026","rel":"","context":"In "SPEED ROUND: CABINET WATCH"","block_context":{"text":"SPEED ROUND: CABINET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-cabinet-watch\/"},"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":599140,"position":4},"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":629814,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/02\/private-sector-could-see-greater-role-in-low-income-housing-development-in-nucas-largest-land-offering\/","url_meta":{"origin":599140,"position":5},"title":"Private sector could see greater role in low-income housing development in NUCA\u2019s largest land offering","author":"enterpriseam admin","date":"2 April 2018","format":false,"excerpt":"Private sector could play a greater role in low-income housing development in NUCA\u2019s largest land offering: The Housing Ministry plans to announce this week the details of a series of tenders for urban development projects in FY2018-19, in what Housing Minister Moustafa Madbouly called the largest land offering to developers,\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=599140"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599140\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/599123"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/599141"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=599140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=599140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=599140"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=599140"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=599140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}