The Law of establishment of new urban communities No 59 year 1979

							The Law of establishment of new urban
       communities No 59 year 1979.




The Law also gives an advantage tax for the parties
dealing with the urban communities authority to
encourage investors since it exempt the authority,
individuals, companies and entities contracting with
them from customs duties and other charges on imports
for the projects concerning the new urban communities
and this in according to the provisions contained in Law
No. 62 of 1974 concerning certain provisions for
reconstruction and its amendments.
     Shall be exempt from all taxes, fees and interest due
on loans and credit facilities that granted to the authority
to finance projects under the provisions of this law.

       And it is applicable in respect of the rules and
provisions of the re-export of capital invested in projects
that are subjected to the provisions of this Act to the
outside or to dispose it and transfer the net return
(revenue) to the outside the same rules and provisions
governing the investment of Arab and foreign capital
investment ,and free zones, and that for what is not given
better facilities in this Act and in the application of this
provision the board have the same powers of the Board
of Directors of the General authority for Investment and
Free Zones in this regard.

     Occupants of the real estate which are held in the
new urban communities are exempted from what is owed
by them from the tax on built real estate, and taxes and
surcharges relating to theses buildings of any description
whatsoever it's description or the source of its imposition
and this for a period of ten years from the date of
completion of the real estate and it's validity to use in the
purpose that it was built for ,when this was done in the
dates set by the board of the corporation and this clause
was amended with new real estate tax law No. 196 of
2008, which will be discussed later.

     It is already clear from what is said previously that
this law is one of the most important laws that has
enriched and developed the real estate sector and the
urban sprawl in general, and it was the beginning of a
trend to establish new urban communities that have
helped the trend towards the redistribution of population
out of the narrow ancient cities and building of new cities
which have the advantages of healthy housing, planned
roads and wide parks, this is made by taking into
consideration    the    building     ratios   and     height
determination, as well as provide all the medical and
educational services, transportation and communications,
which led to the existence of civilized cities that will be
an honourable form to Egypt such as El Rehab city – El-
Shorok city - Madinaty - the sixth of October - Sheikh
Zayed - Sadat - Burj Al Arab, and others.