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Thursday, 18 July 2019

NACCUD close to securing EGP 18 bn-worth agreement with UAE developer

INVESTMENT WATCH- NACCUD close to securing EGP 18 bn agreement for housing project with UAE investor: The New Administrative Capital Company for Urban Development (NACCUD) is close to securing an agreement with an unnamed UAE investor for an EGP 18 bn, 12k-feddan housing project, NACCUD boss Ahmed Zaki Abdeen told the local press without providing a timeline.

Promotional tours coming: NACCUD is preparing to organize promotional tours abroad, particularly in the Gulf region, as well as bilateral meetings with investors, to draw investments for the new capital, a government source said. The company is not planning to launch tenders for new land plots this year, but is currently studying a number of bids from local and Arab developers.

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