Cabinet denies financing establishment of NAC government district from proceeds of selling old premises

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Thu, 25 Feb 2021 - 01:41 GMT

FILE PHOTO- Ministers partake in a Cabinet meeting

FILE PHOTO- Ministers partake in a Cabinet meeting

CAIRO - 25 February 2021: The media center of the cabinet denied on Thursday media reports claiming that the establishment of the government district at the New Administrative Capital (NAC) was financed from proceeds of selling old government premises.

 
In a statement, the center said it contacted the NAC company that dismissed as groundless such reports.
 
 
It stressed that the government district was financed from proceeds of selling lands in the new capital to investors.
 
 
The establishment of government district is expected to cost 50 billion pounds.
 
 
Built over 880 feddans, the government district will include 34 ministries in addition to the cabinet and parliament headquarters.
 
 
The center urged media outlets to verify the authenticity of news before publishing tem to avoid disrupting public order.

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