Minister of housing and new communities Moustafa Madbouli announced that four memos of understanding were signed on the sidelines of Sharm el Sheikh economic conference to establish urban projects in the 6th of October City and other cities with investments reaching more than 13 billion dollars.
In statements on Sunday, the minister said that one of the projects is a hotel city on 557 feddans in the 6th of October city with investments reaching 4 billion dollars.
He said the agreements which were signed with Egyptian, Arab and British companies cover establishing new malls and housing projects in New Cairo, Sheikh Zayed, Damietta and the Tenth of Ramdan City.