Five entities get 79.4 feddans in Egypt new capital to invest

Five Egyptian entities have obtained 79.484 feddans for investment in the 8th residential district in the country’s new capital, an official in Administrative Capital for Urban Development (ACUD) said on Monday.

“The five entities had paid off 20 percent of the total value of the land plots,” ACUD’s spokesperson Khaled El Hosseini further said.

Ain Shams University Staff Club was granted 18.141 feddans in the 8th residential district, El Hosseini said, adding that Aqar Misr for Urban Development Co. and Alaela Co. for Real Estate Investment had 16 feddans and 8.3107 feddans, respectively.

Cornerstone Group and Namaa Association for Cairo Police Offers got 10.873 feddans and 25.173 feddans, respectively, he said.

“ACUD had allocated 18.26 feddans in the new capital’s third district to establish six schools,” El Hosseini said.