Large Turnout Investors to Submit Applications on The “Foreign Investment Portal”

Dr. Assem Al-Gazzar, Minister of Housing, Utilities and Urban Communities, stated that there is a large demand from investors and companies to submit applications and register on the “Foreign Investment Portal”, which was launched by the New Urban Communities Authority, on February 4, in light of the state’s plan for digital transformation and investment support.

And facilitating procedures for investors, and within the framework of the Authority’s continued keenness towards digital transformation to facilitate all its services and advance investment in new cities.

The Minister of Housing explained that the portal provides investors with the service of submitting an inquiry request about investment opportunities, or submitting a request to provide an investment opportunity for all service activities in new cities, in dollars transferred from abroad, stressing that the New Urban Communities Authority launched this portal to facilitate investors .

Dr. Walid Abbas, Vice President of the New Urban Communities Authority for the Planning and Projects Sector Supervisor of the Office of the Minister of Housing, indicated that since the launch of the “Foreign Investment Portal”, about 1,500 electronic accounts have been registered, and the data of about 700 companies has been registered, while the number of applications submitted to it has exceeded As of yesterday, March 3, the portal received 1,800 applications, including 672 applications in February, and 636 applications in the first 3 days of March.

The supervisor of the Minister’s Office added that the requests submitted in February amounted to 672 requests in 25 new cities, including 535 requests to inquire about a plot of land, and 137 requests to provide a plot of land, and investors were responded to in the time specified regarding the availability or not, as the number of plots reached The available lands are 188 plots of land, and 121 investors completed the necessary documents and transferred “Swifts” to reserve the plots of land, in accordance with the applicable rules.

The Deputy Chairman of the Authority for the Planning and Projects Sector explained that the investor registers an account on the portal, enters the required data (name - national number - email - phone number), and receives a message to activate the account.

After that, he registers the data of his company or companies, and uploads the documents.

After registration, the investor submits a request to provide an investment opportunity, if he does not know the details of the plot of land, or submits an inquiry request if he knows the details of the plot of land.

Requests are submitted on the portal during the period from the 1st to the 7th of each month, and are responded to within The period from the 8th to the 14th of each month, whether the plot is available or not, and from the 15th to the 30th of each month, the investor completes the procedures and documents required if the plot is available, after which the allocation is made by the Board of Directors of the New Urban Communities Authority.