Egypt’s NUCA eyes 40bn pounds investments boost at end-FY2017/18

Egypt’s New Urban Communities Authority (NUCA) seeks to increase its total investments to 40 billion pounds from 30 billion pounds at the end of financial year 2017/2018, Alborsa News reported, citing sources at Egypt’s housing ministry.

The new investments will be distributed across Egypt’s main cities, such as Sheikh Zayed, New Cairo, the Sixthof October cities, the sources highlighted.

The sources forecast the NUCA to raise 8 billion pounds to 10 billion pounds in investment to complete the New Administrative Capital project by the end of the current financial year.

NUCA’s total investments amounted to about 15 billion pounds in the period from July to December 2017.

Source: Mubasher