By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Tatweer Misr breaks sales record in H1 2023
    Tatweer Misr breaks sales record in H1 2023
    September 25, 2023
    Real estate exports boost Egypt’s economy, Cityscape panel reveals
    Real estate exports boost Egypt’s economy, Cityscape panel reveals
    September 25, 2023
    SODIC reports 22% sales growth in 2023
    SODIC reports 22% sales growth in 2023
    September 25, 2023
    Huawei partners with Egypt to transfer modern technologies for digital transformation: Madkour
    Huawei partners with Egypt to transfer modern technologies for digital transformation: Madkour
    September 25, 2023
    HSBC plans climate tech funding push
    HSBC plans climate tech funding push
    September 25, 2023
  • Politics
    PoliticsShow More
    Presidential election in Egypt set for 10-12 December
    Presidential election in Egypt set for 10-12 December
    September 25, 2023
    Defence Minister meets NATO Military Committee chief
    Defence Minister meets NATO Military Committee chief
    September 25, 2023
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    September 24, 2023
    Al-Sisi highlights opportunities for mutual benefit with China
    Al-Sisi highlights opportunities for mutual benefit with China
    September 24, 2023
    Egypt, India affirm their strategic partnership, discuss regional issues
    Egypt, India affirm their strategic partnership, discuss regional issues
    September 24, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Opinion| Egypt’s New Administrative Capital and support for real estate developers
Share
Notification
Latest News
Presidential election in Egypt set for 10-12 December
Presidential election in Egypt set for 10-12 December
Politics Egypt
Tatweer Misr breaks sales record in H1 2023
Tatweer Misr breaks sales record in H1 2023
Business
Real estate exports boost Egypt’s economy, Cityscape panel reveals
Real estate exports boost Egypt’s economy, Cityscape panel reveals
Business
SODIC reports 22% sales growth in 2023
SODIC reports 22% sales growth in 2023
Business
Huawei partners with Egypt to transfer modern technologies for digital transformation: Madkour
Huawei partners with Egypt to transfer modern technologies for digital transformation: Madkour
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Real Estate > Opinion| Egypt’s New Administrative Capital and support for real estate developers
OpinionReal Estate

Opinion| Egypt’s New Administrative Capital and support for real estate developers

Badway Shalaby
Last updated: 2021/07/13 at 12:06 PM
By Badway Shalaby 4 Min Read
Share
New Administrative Capital Badawy Shalaby
Badawy Shalaby
SHARE

I was on a tour in Egypt’s New Administrative Capital (NAC) recently, and I saw the extent of project implementation. 

There are developers that are racing against time, and others that do not have a presence in reality. Many are lost, without a clue on how to do anything. 

But what really caught my attention, and this is very necessary, is that it is essential to support real estate companies in the NAC. The project is huge, and we need time for its features to become clear. 

There must be flexibility so that these companies can go on, and here I’m focusing on serious companies, not just ones that are all talk and no action.

Central Business District in Egypt's New Administrative Capital
Central Business District in Egypt’s New Administrative Capital

Real estate development is not just leaving concrete on sites. It is real estate development. We should not look at companies as banks that pay instalments and create publicity for their projects while implementing them at the same time. 

This would be a catastrophic failure, and there are many models that we can look at other than the NAC.

These companies need encouragement to expand and work in order to remain true partners in the development that is taking place in the NAC. 

The project needs huge investments and this will not be provided by the state alone. The private sector must be a partner with flexible mechanisms, not pressure programs to implement and paying instalments only.

A new mechanism must be available to deal with real estate companies in the NAC to succeed, finish development work, and expand with new projects.

Financing can only be available in the presence of a distinguished real estate product, but competition in the NAC has led to a decline in sales, while increasing financial burdens that require unconventional solutions.

The New Administrative Capital is a project that grows and develops every day, and receives new investments. However, it must be supported, and there should be a strategy that suits this development in order for the project to succeed without causing losses to the parties of the development process.

In the past couple years, especially during the novel coronavirus (COVID-19) crisis, the state has provided a lot of support to real estate development companies through initiatives and postponing payment of land instalments. 

It dealt with this crisis with professionalism that everyone was able to see. Nevertheless, the market needs to be reorganised after this crisis, especially as these real estate companies witnessed a decline in sales during that period, which was reflected on the implementation rates of the projects.

Here, I’m addressing the importance of attracting new investments and developing solutions for some companies that are currently facing challenges, especially as they are main success partners for the development process of national projects.

In the end, I would like to propose some solutions. Currently, it is necessary to study the situation of each company in terms of the strength of financial solvency and the size of the project that it is developing.

This should also take into account the precedent of works and implementation rates before starting the development work. This is so that the authorities can ensure the implementation will take place as promised and trust developers’ ability to develop the project.

These simple requirements can filter out companies that are not serious from the beginning, without a real crisis that hinders the development of the project.

Badawy Shalaby, Deputy Managing Editor of Al Borsa Newspaper and real estate affairs journalist 

You Might Also Like

Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity

Master Group completes 55% of The City project in New Administrative Capital

Opinion| US-backed India-Middle East economic corridor: A political project?

Khartoum: the creation and the destruction of a modern African city

Genocide fears in Sudan’s Darfur are attracting little attention − have nations abandoned their responsibility to protect civilians?

TAGGED: New Administrative Capital
Share this Article
Facebook Twitter Email Print
Previous Article Opinion| Egypt and the advancement of the African economy
Next Article Inas Abdel Dayem, Egypt’s Minister of Culture Opinion| Egypt’s role in promoting intercultural dialogue and supporting world peace
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Presidential election in Egypt set for 10-12 December
Presidential election in Egypt set for 10-12 December
Politics Egypt
Tatweer Misr breaks sales record in H1 2023
Tatweer Misr breaks sales record in H1 2023
Business
Real estate exports boost Egypt’s economy, Cityscape panel reveals
Real estate exports boost Egypt’s economy, Cityscape panel reveals
Business
SODIC reports 22% sales growth in 2023
SODIC reports 22% sales growth in 2023
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?