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New Nubaria Development’s investment plan stands at EGP 150m in FY 2020/21 - Daily News Egypt

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New Nubaria Development’s investment plan stands at EGP 150m in FY 2020/21

Authority launches campaign to remove building violations


New Nubaria Development Authority’s investment plan for the fiscal year (FY) 2020/21 stands at EGP 150m, according to the authority’s Chairperson Mohamed El Kasseri.

The new financial allocations for FY 2020/21 compare to the EGP 130m in current FY 2019/20.

El Kasseri told Daily News Egypt that the new allocations will be directed to infrastructure, utilities, and housing projects in the city.

He added that the New Nubaria Development Authority expects to choose an advisory office for developing the New Nubaria extension’s master plan. This will occur in the second half of 2020, with the master plan set to cover over 54,000 feddan.

He noted that the investment cost of connecting the New Nubaria expansion city to utilities and services is estimated at about EGP 4bn. He noted that the new city will be debuted to investors after the master plan is completed.

El Kasseri said that the relevant departments at the New Nubaria Development Authority have launched a campaign to remove building violations. This is being coordinated between the relevant departments with the authority and security authorities.

“The New Nubaria Development Authority’s relevant departments will continue to monitor and prevent all building violations in the city and remove them immediately, to prevent illegal buildings and deter violators,” El Kasseri elaborated. “Records of construction violations will be transferred to the military prosecution according to the Emergency Law, to deter those who take advantage of exceptional circumstances due to the coronavirus.”

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https://dailyfeed.dailynewsegypt.com/2020/06/08/new-nubaria-developments-investment-plan-stands-at-egp-150m-in-fy-2020-21/
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