Egypt to offer Administrative Capital for Urban Development on EGX within 2 years

CAIRO – 15 August 2021: Egypt has a plan to put the Administrative Capital for Urban Development (ACUD) on the stock exchange during the coming period, according to the Egyptian President Abdel Fattah El-Sisi.

This came during his speech at the opening of a number of residential projects in Badr City.

Sisi said: “We will offer the company on the stock exchange at the earliest opportunity. The solvency in the company’s fund is LE 100 billion. We are talking about liquid funds amounting to LE 100 billion for the Administrative Capital Company.”

"This is another pure idea to manage our capabilities and resources, and the state will not pay a penny, and I imagine that during the next two years, after it was put on the stock exchange, the company's assets exceed LE 3 and 4 trillion, and this applies to El Alamein and other cities,” he continued.

"We reassure the people that the state is regulating its control and controlling people's rights, and all the housing units offered by the state are fully finished," Sisi added.