The government has invested EGP 105 bn in housing, infrastructure projects, and the New Administrative Capital since Minister Madbouli took office on June 30 2016, Invest-Gate reports.

In a statement  released by the Housing Ministry, the government dedicated EGP 74 bn to carry out infrastructure projects, EGP 22 bn for housing projects, EGP 5.5 bn for service projects, EGP 1.5 bn for agriculture projects, and EGP 2 bn for the New Administrative Capital.

Investments worth EGP 40.4 bn were pumped in the period between July 1, 2013 and June 30, 2016, Minister of Housing Mostafa Madbouli says.

The government has allocated a total budget of EGP 37 bn in FY2016-17 for more housing projects, the minister adds, noting that an additional amount of EGP 2 mn is earmarked for the New Administrative Capital.