Chairman of the Administrative Capital for Urban Development (ACUD) Ahmed Zaki Abdeen, along with Al Ahram Institution CEO Abdel-Mohsen Salama, inaugurated on February 20 the first real estate exhibition dedicated to the New Administrative Capital (NAC), Ahram Online reports.

Organized by Al Ahram Institution under the title of “The Capital of Hope,” the exhibition was held at Dusit Thani Lakeview Cairo from February 20 to 22, featuring a number of real estate development projects in NAC.

At the inauguration ceremony, Abdeen said that the Egyptian government will transfer its ministries to the new capital as scheduled on June 30, according to the state-run news website.

On his part, Salama said that he is working in cooperation with the ACUD to make the exhibition an annual event.

Earlier, Abdeen told Reuters that the 40,000-acre first phase of the New Administrative Capital (NAC) has seen investments worth EGP 300 bn, all of which is self-financed.