Cabinet Denies News of Financing Entertainment City from State BudgetSource: www.export-egypt.com 12/18/2022, Location: Africa |
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The Cabinet’s media center has dismissed as baseless news posted on some social media networking sites about bankrolling a project to build an entertainment city in the New Capital from state budget.
The center had contacted the New Capital Company, which affirmed that the entertainment city is a private project that is being financed by one of the real estate developers. All projects inside the New Capital are being financed off-budget, the company said, adding that the New Capital has its separate and independent revenues that are used to complete implementation and operation of the different ventures. The New Capital Company urged citizens not to take posts on social media networking sites for granted, and to verify information from reliable sources. |
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