Egyptian Cabinet spokesperson Mohamed al-Homosany introduced Monday that work is underway to supply various housing for the residents of the Ras a-Hekma area, including that monetary compensation and various lands have been supplied to the residents.
During a cellphone interview with al-Mehwar TV channel, Homosany defined that LE 5.5 billion has been paid in compensation to Ras al-Hekma space residents, stating that the state is working to develop your complete North Coast area.
The Cabinet spokesperson added that the biggest share of the seashores that might be developed are positioned on the Mediterranean Sea.
‘Largest of its kind’
Prime Minister Mostafa Madbouly back in February stated this venture will be the largest of its kind, because it seeks to develop a metropolis with an space of 170 million sq. meters or greater than 40,600 acres.
He identified that the Abu Dhabi Developmental Holding Company will set up a holding firm beneath the identify “Ras al-Hekma” that might be answerable for the venture, with Egyptian contributions.
“The project’s flows curb inflation and aim to eliminate it, and eliminate the presence of two prices for the US dollar,” the prime minister stated.
