The Ismail Cabinet’s Planning and Urbanization Committee gave its preliminarily approval yesterday to a plan to establish new cities in North Sinai, Beni Suef, and Minya, according to a statement. Among the planned new cities is the New Bir Al Abd City, which Housing Minister Mostafa Madbouly had announced last November following a deadly terrorist attack on the Al Rawda Mosque in North Sinai’s Bir Al Abd. The plans will be put up for discussion at the next cabinet meeting, the statement says.
More from Enterprise
Banque du Caire’s blockbuster IPO holds firm against EGX selloff
The IFC and the EBRD are in for USD 100…
Can AI promise Egypt’s lenders more borrowers and fewer bad loans?
Banks are cautious about letting AI judge a borrower. Local…
Egypt’s funds crossed EGP 500 bn in 3Q on retail money and a stalling core
Money market funds stalled while retail piled into equity, index,…
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a…