The Ministry of Housing, Utilities, and Urban Development starts developing 10,000 units in New Al Alamein City at a cost of EGP 1.4 billion, Al Borsa reported.
The total area of the city is 48,000 acres, with the first phase targeting two segments, touristic and residential, over an area of 8,000 acres. The first phase is expected to house 400,000 residents.
Minister of Housing Mostafa Madbouly said the Arab Contractors Company and Mokhtar Ibrahim will undertake the infrastructure and utilities work for the city. The Armed Forces Engineering Authority will build the water plant and internal roads in the city.
Madbouly recently visited New Al Alamein City to check on the progress of utilities and infrastructure construction in the first phase of the project. During the visit, he met with representatives of the Armed Forces Engineering Authority, along with ministry officials and project consultants.
He further affirmed the importance of hastening the completion of the one kilometer New Alamein Corniche, to be completed by the end of this summer.
There are numerous investment opportunities available in the first phase, said Madbouly. The city is set to include lake Al Alamein, a 296-acre hotel district, conference center, and a culture and entertainment center.