The New Urban Communities Authority (NUCA) is set to establish a real estate investment company for the purpose of the development of the land plots which were not sold at NUCA’s latest auctions. The company’s operations will also include the development of projects that were offered to investors, for which negotiations were not completed successfully, such as October Oasis, which was offered to investors at the Egypt Economic Development Conference (EEDC) in March 2015. NUCA will have a 90% share in the company, with the remaining 10% owned by one of the local banks. (Al Borsa)