The New Urban Communities Authority (NUCA) agreed to offer facilities for developers with land plots starting from 8,400sqm, according to Ahram newspaper.
The agreement allows companies to pay 25.0% of arrears until March 2014 and postpone the remaining 75.0% until after the initially agreed upon due date of the final installment.
Additionally, NUCA agreed to provide a one year extension for the completion of projects subject that the percentage of completion of the construction work exceeds 35.0%.