Egypt, Saudi Arabia Sign 222 B Investment Fund Pact

• Tuesday, 12th April 2016
• by Nadine Abou el Atta

Egypt and Saudi Arabia signed EGP 222 billion ($25 billion) worth of agreements during Saudi King Salman bin Abdul Aziz Al-Saud’s visit to Cairo in April, Sahar Nasr, Minister of International Cooperation, told Daily News Egypt.

A Number of 2,448 Units Built in New Assiut

• Monday, 11th April 2016
• by Nadine Abou el Atta

The construction of 2,448 units, part of the social housing program in New Assiut, has been finalized; once delivered, construction companies assigned the project will begin constructing additional 5,136 units within the second phase of the program, over an area of 266 acres, in the south-eastern expansions in the city, Ahmed Omran, Head of Assiut Development Authority, told Invest Gate.

Egypt to Invest EGP 400 M in Connecting Cairo’s New Administrative Capital to Main City

• Saturday, 9th April 2016
• by Nadine Abou el Atta

The New Urban Communities Authority has announced a plan to reduce traffic congestion in New Cairo, as well as connect Cairo’s new administrative capital to the main city. The plan includes the digging of two tunnels, and the development of roads and squares, at a cost of EGP 400 million, Vice President of the New Urban Communities Authority, Kamal Fahmi told Invest Gate.

Construction of Cairo’s New Administrative Capital to Begin this Month

• Sunday, 3rd April 2016
• by Nadine Abou el Atta

Construction of the new administrative capital has officially begun. According to a statement by Mostafa Madbouly, Minister of Housing, four construction companies have been assigned with execution of the project’s first phase infrastructure, reported Akhbar Alakarat.