Egypt stops sale of residential land plots to individuals, limits it to property developers

Ahram Online , Monday 24 May 2021

The 'temporary' step aims to put a brake on speculation on state lands

Egypt has temporarily stopped the sale of residential lands to individuals in the country's new cities and restricted sale to real-estate development companies in an effort to organise the construction process nationwide.

The Egyptian New Urban Communities Authority (NUCA), which is part of the Ministry of Housing, sent on Saturday a circular about the decision to all the new cities, according to local media reports.

The decision, which will be temporary, comes as per the directives of the country's Prime Minister Mostafa Madbouly, read the circular.

The decision is limited to small residential plots that are often offered via a draw system, according to local news website Youm 7.

The step aims to put a brake on speculation on state lands.

The Egyptian government has recently updated the regulations on the planning and construction of cities as part of its plan to end construction violations countrywide.

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