Egypt's New Urban Communities Authority allocates 18 investment opportunities

The New Urban Communities Authority has successfully allocated 18 investment opportunities through public auctions held in New Obour City and New Port Said (Salam). These opportunities include 10 commercial shops and 8 administrative or professional units.

In New Obour City specifically, the auction resulted in the awarding of 13 opportunities—comprising 7 commercial shops and 6 administrative units—generating approximately 32.5 million Egyptian pounds in sales. The allocated spaces ranged from 14 to 91 square meters, with the highest price per meter reaching 267,500 Egyptian pounds.

In New Port Said (Salam), the auction awarded 3 commercial shops and 2 administrative units. These initiatives are part of a broader strategy by the Ministry of Housing, Utilities and Urban Communities to provide essential services, support economic activity, and enhance the quality of life and stability for residents in Egypt's new urban developments.