Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny has announced the launch of a major investment opportunity in New Cairo, involving a 79-feddan plot of land owned by the Social Housing and Mortgage Finance Fund. The project will be offered under a partnership system, with the New Urban Communities Authority (NUCA) handling all offering, awarding, and contracting procedures on behalf of the Fund. Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Fund, said that revenues from land sales to developers help finance the construction of housing units for low-income citizens. She noted that the offering aligns with presidential directives to maximise the utilisation of state-owned real estate assets, contributing to both urban expansion and economic development. Abdel Hamid explained that the Fund is diversifying its financing sources through closer cooperation with the private sector, which in turn supports the implementation of housing under the presidential initiative "Housing for All Egyptians" targeting low- and middle-income groups. The New Cairo plot, designated as No. 9/3-AP in the Sixth Settlement, will be offered under a 100 percent cash partnership system, with NUCA responsible for its marketing. She added that investors are required to submit a reservation deposit of EGP 50m no later than September 15, in addition to an advance payment of EGP 200m within three months of the Fund's Board of Directors' approval. The planned project will establish a fully integrated urban community with residential and service areas in a prime location near the Ring Road and Katameya–Ain Sokhna Road, and minutes away from key landmark projects in New Cairo. Kamal Bahgat, Deputy CEO of the Fund, said applications must be submitted manually at NUCA's headquarters, in line with the procedures set out in the tender booklet, which requires two envelopes—technical and financial. Investors are permitted to withdraw their applications within one working day following the close of the offering. He added that the project implementation period has been set at seven years from the date of issuance of the ministerial decree. Developers must fully comply with civil defence regulations, height restrictions, and parking requirements in accordance with the Egyptian building code.
