NUCA allocates $153mln for Obour City in FY 2015-16

The New Urban Communities Authority (NUCA) has allocated EGP 1.2 billion (US$153 million) for Al-Obour City from fiscal year 2015-16’s budget, Deputy Head Kamal Fahmy said Thursday.

The budget is dedicated for carrying out a bunch of new projects in the city within the upcoming period, the official stated.

The new budget is three times larger than the previous one which is estimated at 455 million Egyptian pounds, Fahmy stated.

On other side, the new budget will be directed to utilize the lands with total cost of 662 million Egyptian pounds to establish social and middle-income housing projects in the city, Head of Obour City Development Authority Amin Ghoneim added.

Moroever, Ghoneim added that the city’s plan for FY2015-16 includes developing the roads between different residential areas and low-income housing units in addition to utilizing 2,600 feddans for investments purposes.