(MENAFN) Egypt aims to develop a new residential city at El Alamein, a town situated on the Mediterranean Sea in the northern governorate of Matrouh at USD337mn.
Meanwhile, the Ministry of Planning will prepare the first phase of the new city, which will come up over 33.6mn sqm area in the north-western coast of Egypt.
Additionally, the first phase will include a tourism development, part of the downtown area, and the city's residential area.
Moreover, the government allocated USD59.6bn from the state budget and government investment during the recent financial year to apply development projects.
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