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19-Jan-2016

Housing Ministry EGP33.5 billion budget for FY2015/16 approved

The New Urban Communities Authority (NUCA) is said to have finalised its budget for FY2015/16, with EGP26.5 billion in expected expenditure for the period. This is in addition to EGP5 billion for the extension of infrastructure works to the borders of land plot allocated to first plot of phase one of the new capital city and EGP2 billion for the development of one-million feddan project. Out of the EGP26.5 billion sum, EGP6.5 billion has been allocated to New Cairo, of which EGP3.5 billion is allocated to middle-income housing and EGP2 billion to water projects. An amount of EGP3 billion have been allocated to Sixth of October City, of which EGP780 million have been allocated to middle-income housing, EGP466 million to water treatment projects, and EGP443 million to the development of roads. New Alamain (North Coast) has been allocated EGP2 billion for a set of infrastructure projects. EGP500 million have been allocated to Sheikh Zayed, EGP1.2 billion to Fifth of May City, EGP650 million to Sadat City, EGP1 billion to Burg Al-Arab and EGP1.2 billion to New Damietta. (Al Mal)

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