President Sisi: Government facilities in the New Administrative Capital were created at the expense of… "Capital Company"
President Abdel Fattah El-Sisi confirmed that the government facilities in the New Administrative Capital were built at the expense of the “Administrative Capital for Urban Development” company, explaining that the company rents these facilities to the government annually at a value ranging between 7 to 10 billion pounds.
This came during President Sisi’s attendance, today, Saturday, at the Authority’s examination tests for new male and female students applying to join the Police College for the current academic year 2024. -2025, and held an open dialogue with them.The President indicated that the “Administrative Capital” Company It financed and established government headquarters and facilities, including ministries, in addition to the Misr Mosque, the Cathedral, the Financial and Business District, the City of Culture and Arts, and the Presidential Building, among others, at the level it is at now, adding that the company rents these facilities to the government for a sum ranging between 7 and 10 billion pounds annually.
The President pointed out that the account of the Administrative Capital for Urban Development Company at the beginning of the implementation of the project to build the New Administrative Capital was “zero” In banks, its balance has now reached 80 billion. The company also has land and money with real estate developers in exchange for selling lands to them with a value ranging between 150 to 160 billion.
