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· Egypt has a plan to put the Administrative Capital Urban Development (ACUD) on the stock exchange during the coming period to realize the required funds
· This was revealed by Egyptian President Abdel Fattah El-Sisi.He during his speech at the opening of a number of residential projects in Badr City recently
Egypt has a plan to put the Administrative Capital Urban Development (ACUD) on the stock exchange during the coming period to realize the required funds. This was revealed by Egyptian President Abdel Fattah El-Sisi.He during his speech at the opening of a number of residential projects in Badr City recently.
Sisi said that the company will be listed on the stock exchange at the earliest opportunity and the solvency in the company’s fund is LE 100 billion.
The state will not pay a penny. In the next two years, after it was put on the stock exchange, the company’s assets will exceed LE 3 and 4 trillion, which will be used for funding the project.
Egypt is working on similar funding arrangements for carrying out other activites also without resorting to heavy borrowing by the government, to keep its fiscal deficit under check.
