UDC's CEO stated that under the contract, the value of the land will be paid in foreign currency, with a total investment of more than EGP 60 billion, and open doors for job opportunities
Prime Minister Mostafa Madbouly witnessed today at the government headquarters in the New Administrative Capital the signing of a contract between the New Urban Communities Authority and UDC Real Estate Development Company to allocate a plot of land in the Andalus Gardens area in New Cairo to establish an integrated urban community.
UDC's CEO stated that under the contract, the value of the land will be paid in foreign currency, with a total investment of more than EGP 60 billion, and open doors for job opportunities.
He also confirmed the company's commitment to present the general plan of the project and the timetable for the implementation of the project in a period of time not exceeding six months from the date of the contract.
Minister of Housing Assem El Gazzar explained that under the contract, a land parcel of approximately 665,505.63 square metres, equivalent to about 157 feddans, in the Andalus Gardens area near the Hope Triangle in New Cairo will be allocated to UDC for establishing The Crest, a comprehensive urban development project (residential, commercial, administrative, entertainment, and hotel), in cooperation with Al Kazr Group.
