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.