NUCA approves EGP 145.5bn budget for FY 2024

The New Urban Communities Authority (NUCA), affiliated to the Ministry of Housing, Utilities and Urban Communities, has approved its budget for fiscal year (FY) 2023/24, with a total of EGP 145.5bn.

Minister of Housing, Utilities and Urban Communities Assem El-Gazar presented the stages of development of the NUCA’s budget, as it was approximately EGP 60.9bn in FY 2019/2020; it rose to EGP 64.11bn in FY 2020/2021, then to EGP 120.27bn in FY 2021/2022. Meanwhile, it reached EGP 144.12bn in the current FY 2022/2023, and the approved budget for the next fiscal year 2023/2024 is EGP145.5bn, an increase of 139% compared to the budget for FY 2019/2020.

El-Gazzar stated that the NUCA is working on the development of 56 new urban communities, including 8 cities in the first generation, 9 cities in the second generation, and 8 cities in the third generation. In addition to, 31 new urban communities “fourth generation cities”, whose development work has begun since 2014 until now, namely New Administrative Capital, New Alamein, New Mansoura, and others. This is in addition to the authority’s work in a number of national projects, including the development of Sour Magra El-Oyoun area, Ain El-Sira Lake, the development of the Maspero area, and the Sawary project west Carrefour in Alexandria, and other projects.