chinese real estate company to build city at new administrative capital
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Chinese real estate company to build city at new administrative capital

Arab Today, arab today

Arab Today, arab today Chinese real estate company to build city at new administrative capital

new administrative capital
Cairo - MENA

Prime Minister Sherif Ismail attended the signing of a framework agreement between the Housing Ministry and Chinese real estate developer China Fortune Land Development (CFLD) for the development, management and marketing of 14,000 feddans at the new administrative capital.

The project will provide a large number of job opportunities during its three phases, with the first phase expected to be completed in June 2018 and attract $5 billion of foreign direct investments, Investment Minister Dalia Khorshid said.

An integrated city comprising educational, health, industrial, residential, commercial and recreational areas will be built on the land under the agreement reached with the Investment Ministry, which is tasked with helping CFLD get the required licenses, Housing Minister Mostafa Madbouli said.

 

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