Cairo – Mubasher: The New Administrative Capital Company for Real Estate Development didn’t reach a final agreement with China Fortune Land Development (CFLD) to carry out the establishment of the governmental district at the new administrative capital.
“The two parties didn’t reach a mutual satisfying agreement in respect to the price per meter of implementing the project, said Ayman Ismail, Chairman of New Administrative Capital.
Earlier, Egypt’s housing and investment minsters signed a framework agreement with CFLD to develop the second and third phase of construction in the new administrative capital east of Cairo with an investment of $20 billion.
