The New Urban Communities Authority’s (NUCA) board has approved the allocation of a 50-acre plot in Sadat City to Egypt’s tourism investment company Cairo Grand Park for the establishment a new tourism project, Invest-Gate reports.

Cairo Grand Park will make an upfront payment of 25% of the land’s sale value within a month from the allocation date, while the remaining value will be paid over four years starting from the advance payment date, Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said in a ministerial statement on March 10.

According to El Gazzar, the tourism project is expected to be implemented within four years starting from the issuance of the ministerial decree.

Amin Ghoneim, head of Sadat City Development Authority, noted that the development will encompass an aquarium, an aqua park that is slated to be one of the largest water parks in the world, in addition to butterfly and flower gardens, the statement added.