Cairo: The Ministry of Housing on Thursday extended a package of investment incentives and facilitations for real estate and service projects in new urban cities by one year, in a move aimed at supporting investors and accelerating development.

According to State Information Service Egypt, the decision was approved by the New Urban Communities Authority (NUCA) board and chaired by Minister of Housing Sherif El-Sherbiny. It applies to mixed-use urban, fully integrated, and service-sector developments, as stated in a ministry announcement.

The extension aligns with the government's broader strategy to boost private sector engagement and stimulate economic activity, particularly in Egypt's new cities. To qualify for the incentives, projects must meet specific financial, legal, and technical criteria, including adherence to payment schedules and land handover deadlines. Eligible companies can apply for the incentives at any time during the extension period.

In a related move, the government has also approved maintaining a fixed 15 percent interest rate on instalment payments for developers in real estate, agricultural, and tourism projects until 15 May 2026. This measure is intended to ease financing burdens for infrastructure development and will be submitted to the Cabinet for final review.