NUCA sells 5k-feddan land plot in Capital Gardens City to TMG subsidiary

NUCA sells 5k-feddan land plot in Capital Gardens City to TMG subsidiary

Prime Minister Mostafa Madbouli witnessed the signing  of a contract between the New Urban Communities Authority, affiliated to the Ministry of Housing, Utilities and Urban Communities, and the Arab Company for Projects and Urban Development, one of the Talaat Mostafa Holding Group companies, to sell "in-kind and cash" for 5 thousand acres;  to establish an integrated urban community in the "Capital Gardens".



 



The contract was signed by Ahmed Saeed Ali, Vice President of the New Urban Communities Authority for Financial and Administrative Affairs, and Hisham Talaat Moustafa, Chairman and Managing Director of the Arab Company for Projects and Urban Development, in the presence of Assem Al Gazzar, Minister of Housing, Utilities and Urban Communities. 



 



Al Gazzar indicated that the  contract signing comes in line with the President Abdel Fattah El-Sisi directions to expand the urbanization and attract more residents to the new communities.



 



The Minister of Housing added that according to this contract, the Arab Company is developing an area of “‹“‹5,000 acres, equivalent to 21 million m2, in the city of "Capital Gardens", overlooking the Suez Road, by establishing an integrated urban project that includes all types of housing.



 





The percentage of housing in the project will be on a total of 50%