EGP 10bn investments in New Administrative Capital

Shaimaa Al-Aees
2 Min Read

Minister of Housing Mostafa Madbouly said that investments injected into the New Administrative Capital are worth about EGP 10bn so far, both in utilities and housing units, besides $3bn that will be pumped into a towers district of the city.

During his tour inside the New Administrative Capital on Saturday, the minister said that the first residential neighbourhood includes about 25,000 housing units with areas ranging between 100 sqm and 180 sqm, in addition to about 1,000 villas with areas ranging from 230 sqm to 328 sqm.

Madbouly added that the construction works in the villas area started three and a half months ago, noting that the 1,000 villas are completely finished in different designs (modern and classic) to take into consideration all customer tastes.

The minister pointed out that six universities will be built in the capital. In addition, the ministry is handing over land plots to nine private schools in the first residential district, with requirements for speed of implementation.

“Masterplans are underway to implement the housing project for government employees in the capital and provide units with areas of 90 sqm, 100 sqm, or 125 sqm. The Ministry of Planning completed calculating the first phase of staff transfers to the capital, with the number of employees moved at 35,000,” Madbouly noted.

Assistant Minister of Housing for Technical Affairs Khaled Abbas revealed that the ministry is developing the first residential district on 1,500 feddans, including utilities for water, electricity, sewage, roads, and telephone networks.

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