NUCA seeks to grow its investments to EGP40 billion in FY2016/17
The New Urban Communities Authority (NUCA) seeks to increase its investments in FY2016/17 to reach EGP40 billion, up from EGP33.2 billion in FY2015/16. EGP9.5 billion were spent in 1H2015/16. EGP5 billion is earmarked for investment in FY2015/16, which is expected to rise as the project progresses. NUCA will depend on revenue from the sale of land and from proceeds from the planned factoring exercises of the USD-denominated receivables related to “Bait Al-Wattan.” (Al Borsa)
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