Approximately EGP 1.5 billion were allocated to build facilities for 16,000 acres of land in New Nubaria, according to Mahmoud El Nagdy Head of the New Nubaria Authority in the governorate of Beheira, reported Al Mal News.
The city’s current total area registers 2,000 acres, whereby about half of the area is used for residential purposes, while the remainder is agricultural land. the new expansion is expected to add nine new neighborhoods, an industrial area, investment area, regional public services, and universities.
Residential compounds are expected to occupy 25% of the land, while 20% of the new land will be utilised for industrial purposes.
The New Nubaria Authority is expected to offer tenders by the end of this year to companies interested in investing in the land plots.