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FINANCIAL NEWS
Egypt to boost NUCA’s budget to EGP50bn in 2017
29 Nov 2016
(MENAFN) Minister of Housing proclaimed that the ministry will provide 2.500 acres of land in new cities to real estate developers in Jan of 2017.
Moreover, the ministry is also working on developing the real estate sector amid two projects; the development of the New Administrative Capital and the development of new cities.
Additionally, the ministry also aims to increase the NUCA’s budget to EGP50bn in the coming year, while the building of the new capital has been delayed for the past 50 years.
Meanwhile, the ministry has to double the inhabited area of the country before 2052 to 12 percent by adding an extra 5.000-8.000 acres worth of land for housing.
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