The Egyptian government’s New Urban Communities Authority (NUCA) said it will launch real estate investment projects worth LE 20 billion ($3.44 billion) 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 20 billion pounds," 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 LE 14 billion and an international equestrian centre worth LE 4.5 billion, the paper said.
