Cairo – Mubasher: Total investments in Sadat city stood at EGP 5.7 billion in the first half of fiscal year 2017/2018, Egypt’ housing minister Mostafa Madbouli said in a statement on Monday.
These investments are set to increase by EGP 1.4 billion to about EGP 7.1 billion by the end of FY17/18, Madbouli added.
The minister noted that the investments include pumping EGP 1.5 billion into the housing sector and EGP 3.6 billion into the utilities sector, in addition to EGP 418 million and EGP 49 million into the services sector and the agriculture sector, respectively, and EGP 32 million into studies and procurements.
On 5 December, assistant housing minister at the New Urban Communities Authority (NUCA) Walid Abbas said that the authority’s new investment plan for FY17/18 stood at EGP 60 billion.
