He stated that the company's financial position is secure and stable, noting that it holds sufficient liquidity to meet all current and future needs, supported by clear and successful investment strategies. He emphasized that the company has no financial debts.
His comments came during a phone interview on the El-Hekaya program with media host Amr Adib, in response to circulating news reports alleging that the company is facing a debt crisis estimated at tens of billions of dollars.
Abbas
clarified that the company carries no debt, and that all banks confirm it is
among the strongest financial institutions in the market, with high capacity
for expansion and development. He added that the company has not offered land
for sale in two years—an indication of market stability and the company's solid
financial standing.
He noted that sales were made just last month, and that the company holds a land portfolio exceeding 80,000 acres, placing it among the largest real estate developers globally.
He also pointed out that the Administrative Capital currently houses more than 25,000 families, six universities, and 11,000 electricity meters. He expects the population to reach 70,000 families by the end of this year. He added that the entire Egyptian government has been operating from within the new capital for the past two years.