Company building modern commercial project in New Cairo, with 60 commercial, administrative units
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‘Owner’ of New Capital is ACUD with two shareholders, 51% is NUCA, remaining is army, capital is $10.3bn
Company to launch 2nd phase of ‘Castle Landmark New Capital’ next month
Al-Sisi discussed with the ministers of antiques and education their latest projects
Zaazou said discussion between Saudi and Egypt are taking place over constructing a $4bn resort
Abdallah expects no less than EGP 20bn in revenues from selling those lands to citizens
The share of the 1.5m acres project will amount to EGP 3.5bn while the New Administrative Capital will acquire the remaining EGP 5bn.
Financing the projects will not pressure the general budget
Alabbar is within a local, foreign, and Arab alliance to create the master plan of the capital, while the infrastructure implementer is yet to be decided
The state operates on the logic of real estate investment and land trade, says Yahia Shawkat
The search for external funding led to a dispute between the Egyptian government and Alabbar, who asked that a part of the funding required to develop the first phase of the capital project be provided by Egyptian banks.
A “doomsday scenario” is possible but not inevitable with long term thinking from the government and families
By Ahmed El-Wahsh Over the past few days, the Egyptian government has unveiled to the world and surprisingly enough, its own Egyptian nationals, that there shall be a change of its capital state. It will be moving from Cairo to a patch of uninhabited land 50km to the East of the Fifth Settlement. According to …