Egypt housing body plans $3.4 billion projects

Reuters, Wednesday 19 Jan 2011

Two tourism projects and an equestrian centre to be built outside of Cairo

The Egyptian government's New Urban Communities Authority (NUCA) said it will launch real estate investment projects worth LE20 billion Egyptian near Cairo, a newspaper said on Wednesday.

"The New Urban Communities Authority is offering a number of investment projects in Sixth of October City worth LE20 billion," al-Ahram newspaper said, citing an official at NUCA.

The newspaper cited the official as saying all the projects would be allocated via public auctions or closed bidding rounds.

The investments would include two tourism projects worth LE14 billion and an international equestrian centre worth LE4.5 billion, the paper said.

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