Cairo – Mubasher: Egypt's New Urban Communities Authority’s (NUCA) board of directors approved the allocation of 50 acres (feddans) in Sadat City in the Cairo-Alexandria desert road for Cairo Grand Park to establish a new tourism project, Egypt’s housing minister said.
Cairo Grand Park will make an upfront payment of 25% of the sale value of the land within a month from being notified of the allocation and pricing, Asem El-Gazzar said in a statement on Sunday.
The remaining value will be paid over four years starting from the date of the advance payment, El-Gazzar noted.
The project is expected to be implemented within four years starting from the issuance of the ministerial decree, he added.
