Cairo – Mubasher: The government on Wednesday stated that it has cancelled the allocation of 518 acres in New Cairo for Sheikh Zayed City Project, whose value exceeds EGP 11 billion.
The 518 acres will be reallocated to the public-private partnership (PPP) projects, informed sourced told Al-Borsa newspaper.
In 2010, UAE’s President Khalifa bin Zayed bin Sultan Al Nahyan unveiled a project to build a residential community in Egypt, including 16,000 units, to be delivered to Egyptian youth.
