Completion of Developments at New Administrative Capital in 2018 Confirmed

Wednesday, 29th March 2017

The completion of large developments across the New Administrative Capital by the end of 2018 is confirmed at the inaugural of Cityscape Egypt 2017, Invest-Gate reports.

Deputy Minister of Housing for Technical Affairs Khaled Abbas makes such an announcement, confirming the first phase of land plots offering in the new capital has attracted about 13 investors and developers.

Abbas adds that the ambitious project will provide many job opportunities and pump additional foreign investments into the country.

Abbas also says that a Chinese construction company has called for developing 14,000 feddans of the New Administrative Capital. “We have signed a memorandum of understanding with the Chinese company and we are now in the negotiation process,” he tells the gathering.

Abbas announces that the government will sign a deal with the Chinese company within the next  two to three months.

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