The New Urban Communities Authority is planning to issue a tender for the development of 2,000 homes in the new capital’s third residential district, according to government sources. The authority is hoping to net EGP 3 bn from sales in the project, and may increase the development’s scope by another 500-1000 homes, sources added. The project is part of 25,000 homes slated for construction in the 1,200-feddan phase one development of the new capital.

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