President Abdel Fattah El Sisi met on Saturday 24/9/2016 with the president of China Fortune Land Development Company (CFLD), which is specialized in the construction of new cities and real estate development.

During the meeting, the CFLD president said that his company plans to invest 20 billion dollars in Egypt over the coming 10 years, stressing the desire to invest in the second stage of Egypt’s new administrative capital, presidential Spokesman Alaa Youssef said.

The official reviewed the company’s projects and activities in the field of constructing and operating integrated cities, pointing out that the company has contributed to building around 50 cities in the world.

The company’s assets hit 30 billion dollars and its sales reached 11 billion dollars in 2015, he said, adding that the company hires about 15,000 engineers and technicians all over the world.

He added that studies showed that the new administrative capital will contribute to pushing up economic and urban development in Egypt and improving the government services provided for citizens as well as luring more foreign investments.

President Sisi asserted the strong and deeply-rooted relations binding Egypt and China, which reflects on cooperation with Chinese companies, voicing hope to benefit from the Chinese expertise in the field of building cities and new urban communities.

He asserted the Egyptian government’s keenness on accomplishing projects in short time in line with the highest standards.