Cairo-Mubasher: Egypt’s housing ministry on Sunday gave a nod to the establishment of an authority for the new administrative capital.
On 10 February 2015, Egypt’s President Abdel Fattah Al-Sisi decided that the land of the new administrative capital is part of the new urban communities.
The decision included that the New Urban Communities Authority, National Service Project Organization and Armed Forces Land Projects Agency will establish an Egyptian joint stock company to design and construct the new administrative capital.
The new capital will include 1.1 million residential units at an estimated cost of nearly $45 billion.
The president requested the government to complete the first phase within two years.
