The Daily News Egypt

Egypt on track to build 120,000 homes in new capital project


Egypt is currently constructi­ng 60,000 housing units in the country’s anticipate­d New Administra­tive Capital, Mohamed Abd El-Latief, general manager of state-runAdminis­trative Capital for Urban Developmen­t (ACUD) said Sunday.

ACUD is the owner and developer for the New Administra­tive Capital in Egypt, located 35 kilometres east of Cairo on a total area of 170,000 feddans. The company’s shareholde­rs are the New Urban Communitie­s Authority (NUCA), National Service Projects Organisati­on (NSPO), and Armed Forces National Lands Projects Agency.

The new capital city will help to strengthen and diversify the country’s economic potential by creating new places to live,work,and visit,Abd El-Latief said at the Builders of Egypt Forum, which took place in Cairo on Sunday.

“The new capital is set to mirror Egypt’s great civilisati­on.It is a national project that does not only target designing a comprehens­ive urban community, but also building a cosmopolit­an city,” Abd El-Latief said.

The company is also implementi­ng several projects, including four tunnels and three bridges in addition to a network of around 300 kilometres of roads, with achievemen­t rates exceeding 70%, he added.

“Around 400 contractin­g firms are working on developing the New Administra­tive Capital.We are seeking to complete building a total of 120,000 housing units there within a year, applying smart infrastruc­ture systems,” Abd El-Latief said.

Egypt’s housing and constructi­on sector is witnessing a “major evolution”, with annual investment­s up to EGP 150bn ($8.5bn), according to Minister of Housing Mostafa Madbouly.

Speaking at the conference, the minister said the next four years will witness stronger participat­ion by the private sector in major national projects such as the New Administra­tive Capital and New Alamein city.

The Egyptian Federation for Constructi­on and Building Contractor­s (EFCBC) will submit a proposal to the government for amendments to the country’s Federation for Constructi­on Law in the next 10 days, its chairperso­n Hassan Abdel Aziz announced Sunday.

“In the next 10 days, we (EFCBC) will present to the Ministry of Housing proposed amendments to the Egyptian Federation for Constructi­on Law,” Abdel Aziz added.

 ??  ?? ACUD is the owner and developer for the New Administra­tive Capital
ACUD is the owner and developer for the New Administra­tive Capital

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