Cairo – Mubasher: The New Urban Communities Authority (NUCA) has achieved revenues of EGP 36 billion in fiscal year 2016/2017 from the sales of land plots and residential units to individuals of different income segments.
The state-run entity aims to double its current revenues in accordance with its cash inflow plan, sources at the housing ministry told Alborsa News.
NUCA’s investments totalled EGP 31.8 billion during the current fiscal year, distributed over projects of housing, facilities, infrastructures, and services, sources added.
The authority seeks to boost investments to EGP 85 billion by the next fiscal year, according to the local newspaper.
It is noteworthy that NUCA has allocated EGP 56 billion in investments for FY18/19, according to assistant to the housing minister Waleed Abbas.
