ACUD to offer 30 new plot lands for sale before end-June
Updated 4/1/2024 8:26:00 AM
Arab Finance: The Administrative Capital for Urban Development (ACUD) is planning to offer over 30 new land plots for sale to companies before the end of June, the company’s Chairman Khaled Abbas told Al Arabiya Business.
The company is targeting from EGP 2.5 billion to EGP 3 billion in proceeds from the sale of the new land plots, Abbas noted.
The plan include around 28 previously offered land plots for sale earlier this year, Abbas said, adding that his company sold 22 plots for about EGP 2 billion within the last offering.
On a related note, ACUD is seeking to achieve profits before tax of over EGP 30 billion by the end of the current year, compared to around EGP 26.5 billion in 2023, Abbas highlighted.
Moreover, he pointed out that ACUD secured from EGP 60 billion to EGP 65 billion in investments in 2024 to implement new infrastructure projects in the New Administrative Capital (NAC).
The company is also looking forward to establishing an industrial zone on a 2,000-feddan area as part of the construction plan of NAC’s second phase, Abbas said.
Related News
