- Local investors show interest in Badr City
- Allocation of land is pending approval from the cabinet
Egypts Badr City Authority, which operates under the New Urban Communities Authority (NUC) says it has received 60 requests from local investors to develop land east of Cairo.
A spokesperson from the authority told MEED that applications included requests to acquire land for the development of retail, healthcare and education projects.
50 applications were for commercial and retails facilities for a total area of 100,000 square metres. Five other applications were for the development of supermarkets with a total area of 75,000 square metres, said the spokesperson.
It is also understood that the authority received three applications for medical centres and two applications to develop two privately run universities.
The spokesperson went on to say that all applications were received from local investors and that the allocation of land is pending approval from the cabinet.
Earlier this year Badr City allocated five plots of land to investors through a public auction which was won by four local companies.
Badr City, which is 47 kilometres east of Cairo, is also part of phase one of the one million home project. If successfully implemented the major housing scheme could see up to 20,000 low-income housing units delivered in Badr City over the next three years.