Afreximbank, FAO seek to establish HQ in in Administrative Capital

The Food and Agriculture Organization (FAO) and  The African Export Import Bank  are seeking to establish new head quarters in the New Administrative Capital according to Khalid al-Husseini, the spokesman of Egypt’s Administrative Capital for Urban Development (ACUD).

He added that both FAO and Afreximbank have submitted requests to assign pieces of lands in the yet unnamed city within the upcoming period.

However, The total lands allocated  in the new capital  for the diplomatic district mounted to 1,500 feddans. He added that 50 embassies and diplomatic missions in Egypt have submitted requests to reserve headquarters there so far.

According to Husseini, the price of the square meter is $400. The New Administrative Capital Company offers privileges to investors not granted by any other company, he stressed.

He further noted that ACUD  is collaborating with the Foreign Affairs Ministry to coordinate regarding the requests submitted from the international institutions and foreign ambassadors to establish new head quarters in the new embassies neighborhood