FINANCIAL NEWS

Egypt’s Housing Ministry to launch new city in 6th of Oct at EGP150bn value

12 Sep 2017

(MENAFN) The Ministry of Housing, represented by the New Urban Communities Authority inked a deal with Palm Hills to implement the October Waha City in the 6th of Oct City with investments worth EGP150bn.

Meanwhile, the NUCA will contribute by land in the project in exchange for 26 percent of total revenues of Palm Hill’s projects.

Moreover, October Waha is very similar to the Madenati project deal implemented by the Talaat Mustafa Group.

Accordingly, the core concept of partnering with NUCA is based on collecting lands for main development firms with prior expertise.

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MENAFN1209201700450000ID1095846419

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