ACUD to host various events and celebrations to promote New Capital

Daily News Egypt
3 Min Read

The Administrative Capital for Urban Development (ACUD) company plans to host various events and celebrations to introduce the Egyptian public to the New Administrative Capital (NAC) and encourage them to attend and participate, according to its Director General Ahmed Fahmy.

He said that the ACUD had started organizing a series of sports, cultural, and artistic events since June, and would continue to do so as part of its strategy to promote the NAC and attract more visitors.

Fahmy revealed that a major sports event would be announced soon, which would be held for the first time in the NAC. He explained that Egypt had been sponsoring this event for several years in coordination with an Arab country.

He added that the event would be broadcast from the New Capital with thousands of spectators by the end of the year and that the ACUD’s website would provide information about the events and celebrations taking place in the city.

The ACUD will also celebrate the golden jubilee of the October War victory in the first half of this month, which will include many aerial and ground shows.

Regarding the facilities that the ACUD recently offered to real estate developers, Fahmy said that they were well received by the developers and that the ACUD had extended the deadline for applying for them again, based on the requests of some developers who had not completed their executive status documents.

He stated that the deadline was supposed to end in mid-September, but many developers asked the ACUD to extend it for another month, and the company agreed, considering them as partners in the success of this huge national project. He said that this would help them cope with the difficult economic conditions that the real estate sector was facing. He added that each developer’s case was being examined individually and independently.

Fahmy stressed that extending the facilitation period was aimed at ensuring the developers’ executive status and their payment situation, as well as monitoring their construction progress and completion rate.

He urged all developers to contact the company to benefit from extending construction periods without penalties, rescheduling financial installments, and reallocating land plots for those who had not started construction yet. He said that this would give them a relative advantage, as they had obtained the land at lower prices than the current ones, as well as getting a new execution period and a longer grace period to finish their projects.

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