Egypt to invest $321.7 mln in New Cairo in FY2019/20 – official

Egypt plans to invest around 5.2 billion Egyptian pounds ($321.7 million) in New Cairo within the 2019/2020 financial year, a senior official said on Saturday.

The sum will be directed to execute various housing projects in the city as part of Dar Misr middle-income residential flagship, head of New Cairo Development Authority Amin Ghoneim further told Amwal Al Ghad.

The investment plan also includes utilising land plots in Beit Al Watan New Cairo flagship that allows Egyptian expatriates to own lands in their homeland, besides implementing waste water treatment plants there, Ghoneim added.