Sunday 29/June/2025 – 12:12 AM
Engineer Khaled Abbas, Chairman of the Board of Directors of the Administrative Capital Company for Urban Development, denied the allegations that there were debts on the capital, with a value of a trillion pounds.
The head of the administrative capital company denies the arrival of its debts for 2 trillion pounds
Abbas said during television statements, that the capital, Safar Dion, has what covers its obligations and has not followed the ground for two and a half years to provide liquidity, explaining that the promotion of such allegations has become repeated annually, especially with the anniversary of the June 30 revolution.
He pointed out that the company’s business is subject to review by 4 of the largest auditors in the world, and they have nothing to do with politics and their work is linked to the economic path only, pointing out that banks ask the company to transfer part of the liquidity available to them to be deposited in the company’s bank accounts.
He added that the company is a real estate developer and is considered one of the largest real estate developers and owns 80 thousand acres.
He denied what was raised from allegations that companies have left the administrative capital, stressing that there are new companies that request participation in the investments that are being launched there.
He noted that the work of the first phase of the capital was completely completed, explaining that the facilities work for the second stage is currently being implemented.
