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English news

16-Mar-2017

NUCA allocates additional EGP6.5bn to New Capital through June

The New Urban Communities Authority (NUCA) has earmarked EGP9bn for the construction and infrastructure work of residential units at the New Capital City through June 2017, as part of its in-kind investment into the New Capital City. Total spending by NUCA has reached EGP2.5bn through mid-March. Public and private contractors, including Petrojet, Concord, Holding Company for Construction and Development (HCCD) had started the construction of 26,000 units on an area of 1,000  feddans, while Cabinet had directly allocated infrastructure works worth a combined EGP4bn to four contractors, namely, i) the HCCD; ii) Consortium between Orascom Construction (OC) and Hassan Allam; iii) Concord; and iv) Arab Contractors. 

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