10% average increase in New Capital’s land prices

Shaimaa Al-Aees
2 Min Read

The average land price increase in the New Administrative Capital (NAC) reached about 10%, which is determined every six months by the pricing committee at the Administrative Capital for Urban Development Company (ACUD), Senior Investment Analyst at ACUD Yehia Maghawry told Daily News Egypt.

“We cooperate with professional consultant offices to produce a sustainable, integrated, and well-planned global smart city. Consequently, we operate with the most famous service providers and operators to develop the New Capital, namely American Honeywell, French EDF, and German Dorsch Grouppe,” he said.

Maghawry elaborated that international offices depend in their business on general planning, not only internal services, so services and utilities will be the responsibility of ACUD as a whole entity.

ACUD’s tasks include maintaining services, especially smart ones such as e-payment, and ensures the provision of entire services to the city’s residents all the time, he disclosed.

Maghawry further revealed that the ACUD will soon announce the new name of the NAC to be more comprehensive.

“All of these procedures will for sure lead to good marketing of the New Capital as a global smart city,” he said. “Additionally, NAC’s land prices increase constantly which reflects the high demand on investing in the city.”

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