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Housing Committee clarifies land lease details
The New Urban Development Authority has launched a lease-to-own system for industrial land plots in New Cairo, aiming to encourage industrial investment and alleviate financial burdens on investors. The system involves allocating over 5.7 million square meters, distributed across 540 plots in 15 governorates, with lease durations of up to 21 years and an annual increase in the plot value of 10%. To obtain the land, applicants must submit a feasibility study, both economic and technical, to support industrial projects in sectors such as chemicals, electronics, and building materials, thereby promoting local production, reducing imports, and increasing exports.
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