Egypt cancels MoU with UAE’s AlAbbar to develop administrative capital
Designs of proposed administrative capital on Suez - Cairo Road - YOUM7

CAIRO: Egypt has cancelled the MoU signed with the UAE’s Mohammed AlAbbar during the March economic summit, to develop the new administrative capital, Investment Minister Ashraf Salman said at Euromoney conference Monday.

“The MoU did not make any progress and accordingly it was cancelled,” said Salman.

Meanwhile, AlAbbar will participate along with other property developers in constructing the new capital under state supervision, added the minister.

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