Egypt-based construction company Al-Shams Housing and Urbanization announces that a possible partnership with the New Urban Communities Authority (NUCA) worth is still under study, Invest-Gate reports.

The company’s statement comes after a local newspaper reported that the company allocated the EGP 1 bn for partnership with NUCA for the establishment of an integrated residential and administrative community.

Located in New Cairo, the community will span across 100 feddans, the announcement reveals.