Egypt’s Nour City project to create 3.3m jobs


Talaat Mostafa Holding has revealed plans for a new city east of Cairo with an investment cost of 500 billion pounds ($31.8 billion), Asharq Business reported.

It will include 140,000 housing units, and is expected to provide as many as 3.3 million regular and irregular jobs, the developer told a press conference.

Mostafa said that the Nour City project, which is expected to accommodate 600,000 people, will provide a range of housing options.

Homes will be offered through payment plans over 15 years in cooperation with state banks that include the National Bank of Egypt, Banque Misr, and Banque du Caire.—AN