4 bln pounds added to Egypt’s budget by NUCA: housing minister

Egypt’s New Urban Communities Authority (NUCA) has submitted so far financial surplus of four billion Egyptian pounds ($221.1 million) in favour of the country’s budget, Housing Minister said Sunday.

Minister of Housing Moustafa Madbouly further told Amwal Al Ghad that NUCA has targeted total surplus worth 3.9 billion pounds from the beginning of financial year 2016/2017 until June 2017.

NUCA is expected to attain more financial surplus as a result of achieving revenues from sealing lands and launching new units in Beit Al-Watan, Madinaty, and El-Rehab City projects, Madbouly confirmed.