Egypt’s El Mostakbal to invest 5 bln pounds in flagship in 2yrs

Egypt’s El Mostakbal for Urban Development says it plans to pump investments worth five billion Egyptian pounds ($278.9 million) into its Mostakbal City project within the next two years.

These investments have been already directed to the project’s infrastructure works since mid-2017, said the company’s chairman and managing director Essam Nassif on Tuesday.

The company has completed the project’s first phase, and is now working on the two and three phasesof Mostakbal City, Nassif further states, adding that his company has paid around 1.6 billion pounds to the state’s New Urban Communities Authority (NUCA).