CAIRO: Minister of Housing Mostafa Madbouly announced Friday that a presidential decree is expected “soon” to announce details of the new administrative capital including its determined area, Youm7 reported.
Madbouly added the project will be pursued shortly after finishing and signing all of its papers with the real estate companies.
On Wednesday President Abdel Fatah al-Sisi ordered the preparation and evacuation of residents from the land allocated to be used for establishing the new administrative capital city, halfway between Cairo and the Suez Canal area.
A presidential statement added that the project was ordered to be started immediately so it can be completed within the five-year deadline announced during Egypt’s Economic Development Conference (EEDC) last weekend.
During the EEDC last week, Madbouly announced the signing of investments worth $12.7 billion.