Housing Ministry to Consider Establishing New Alamein Development Company

Saturday, 2nd July 2016

The Ministry of Housing, Utilities, and Urban Communities is currently is currently considering the establishment of a real estate investment company to manage the development of New Alamein City, in a partnership with the Ministry of Tourism and the Ministry of Defense, an official in the ministry of housing told Invest Gate.

The company is being built on a similar scope to that of the recently launched Administrative Capital for Urban Development Company, which is responsible for managing the execution of the Administrative Capital.

The Ministry of Housing is due to make a decision within two months, on whether to establish the company in collaboration with the Armed Forces or the private sector, the source said, adding that the Ministry of Defense has recently cleared a big number of landmines in the new city, from the World War II era.

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