Egyptian Minister of Housing Moustafa Madbouly said the project of southern central business district - a money and business centre - will be launched in the Sixth of October and Sheikh Zayed cities, with an investment cost totaling EGP 12.5 billion.

He added that this centre will be unveiled in the Economic Conference which will be held in Sharm El Sheikh from 13-15 March.

Madbouly said the project, which will be located in the southern district, Al Wahat Road, aims to boost the land use efficiency and develop the city.

The project will have investment returns of 25-30%.