FINANCIAL NEWS

Egypt’s aspiring Mostakbal City scheme runs smoothly

07 Dec 2015

(MENAFN) Three Egyptian firms have got the green light to obtain lands for the first phase of the wide-scale Mostakbal City development, according to latest reports.

Al-Ahly for Real Estate Development won 80, 108, and 99 acres of separate lands; El-Asher for Development Investment won 70 acres of land; and Wadi Degla took 545 acres.

Meanwhile, the basic facilities for the project are being implemented where roads of the first phase are being paved by the General Nile Company for Roads & Bridges.

Mostakbal City is projected to put up new lands for the second phase by 2016. And these lands are assigned for commercial use, let alone other development fields.

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