The founders assembly of the administrative capital for urban development, an Egyptian joint stock company, held on Sunday its first meeting, under legal adviser and co-founder Dr. Ahmed Washahi.

According to a statement by the Housing Ministry, the founders assembly named the company's board that groups 13 members; three members of the New Urban Communities Authority, six experts and four members of Armed Forces representatives. 

During the meeting, Ayman Ismail was appointed as the "non-executive" chairman of the company's board of directors and Major General Mohamed Abdel Latif as the managing director