The real estate development of the Businessmen’s Association discusses with the urban communities the pricing of the units

The Real Estate Development and Contracting Committee of the Egyptian Businessmen’s Association, chaired by Eng. Fathallah Fawzi, Vice Chairman of the Board of Directors and Chairman of the Committee, held a symposium with Eng. Abdel Muttalib Emara, Vice President of the New Urban Communities. Urban Development Affairs Authority to discuss and review investment opportunities in new cities, mechanisms for offering land and facilities provided to developers and contractors.

The meeting was attended by ing. Ahmed Sabour, Dr. Nevine Abdel-Khalek, members of the board of directors, Eng. Alaa Fikry, first vice-chairman of the committee, and ing. Mohamed Ajlan, second vice chairman of the committee The meeting was also attended by a large number of members of the association representing the Egyptian business community.

Engineer Fathallah Fawzi said that the committee will discuss with the New Urban Community Authority the facilities and procedures that will mitigate the unit price crisis and calculate the cost of projects due to the dollar crisis and the high prices of building materials and materials, whether in terms of project implementation periods and – modify programs or pay land installments to developers.

Fawzi added that the committee demands the importance of not offering plots of land without introducing utilities to ensure the speedy implementation of projects while expediting the operation of facilities in all new cities that are beginning to populate, and to set up a mechanism for the private sector’s participation in economic and social housing projects in exchange for developers acquiring land in different locations for implementation Investment projects at market prices.

The members of the association also appealed to the New Urban Communities Authority to extend the land repayment period for a year and modify the project implementation programs for the developer and the contractor under the current circumstances with the aim of relieving pressure on construction that drains dollars and so that the contractor is not forced to deal with traders to meet the high cost of iron and cement, in addition to proposing the establishment of a procurement platform Direct supply of raw materials without intermediaries as a price exchange, and the return of the small investor was demanded.

Abdul Muttalib Emara, Vice President of the New Urban Communities Authority, unveiled new facilities for developers and contractors in the payment of land installments and the duration of project implementation, explaining that a decision is issued by the Authority’s board of directors to grant land to developers to offer on 10-year payment systems, compared to the current systems, which range from 3 years.Without interest and 7 years with interest, in addition to the commission investigating the contracting companies’ request to extend the project implementation period for a new 6 months .

Emara added that the authority, in implementing the state’s current approach to encourage the private sector to undertake social housing projects and the housing of all Egyptians, is studying offering land to developers in different locations through the unit price comparison system.

He emphasized that there are no problems related to developers’ access to land, as the Authority announces the presentation of plots under the allocation system on its website, from the 1st to the 15th of the month.

He pointed out that the mechanism of direct allocation of transfers from Egyptians abroad or foreigners takes place without competition, but on the condition that the purchase and the making of dollar transfers from outside Egypt to the Central Bank of Egypt.

The vice president of the New Urban Communities Authority revealed that the authority is ready to offer the reservation of the homeland’s lands and housing units in dollars for Egyptians and foreigners, in addition to offering advertisements for the reservation of housing units within a week, in addition to stopping to offer 100,000 units in the sixth phase due to the difficulty of pricing due to the instability of the current economic conditions.

Emara added that the authority is currently studying the availability of land for the small investor and support for the developer and the small contractor to meet the demands of small and medium-sized companies representing a wide sector of the construction and real estate. development sector.

In response to the difficulty of exporting Egyptian real estate in Saudi Arabia, Emara explained that the Saudi investor applies the system of direct land allocation without competition, as well as the purchase of real estate with the ease of exit and access of funds as long as it is done in an official manner by the Central Bank.

He emphasized that all lands are available for the industrial developer through the direct allocation system in all new cities, including New Alamein, which has received a request from industrial developers in the current period, in addition to the availability of lands in New October for approximately 270 industrial hectares , as well as in Sadat City and the Tenth of Ramadan.

The Vice President of the Authority pointed out that the land allocated to individuals in the new cities will be presented with a model for external construction, in order to ensure the architectural style and civilized face of the buildings of individuals.

He explained that the lands allocated to individuals will be presented by a unified model regarding the external facades, and as for the interior design, it will be according to the desire of the allocated piece of land.

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