Egypt on track to execute 12 residential towers in New Mansoura
Egyptian government’s New Urban Communities Authority (NUCA) says it has started executing 12 residential towers in New Mansoura City, with investments of eight billion Egyptian pounds ($448 million).
NUCA is planning to implement 30 towers in New Mansoura, at lengths of 120 metres for each tower, an official source in the authority told Amwal Al Ghad on Saturday.
“Each tower will include around 180 luxury housing units like the towers in New Mansoura, in which NUCA is targeting budget worth two billion pounds for New for the current financial year,” the source said.
In August 2017, Egyptian President Abdel Fattah al-Sisi issued a decree to establish a new city in Mansoura, 128km (79.5 miles) north of Cairo in the Nile Delta.
The decree approved the re-allocation of 5,104 feddans or 21.4 million square metres of the state-owned lands to the New Urban Communities Authority to be used in establishing a new urban community, the New Mansoura City.
New Mansoura is expected to have more than 150,000 housing units for around 680,000 citizens. The city is set to include touristic housing, villas, and medium-income and social housing as well as regional university and technological industrial development zones.