The Ministry of Housing, Utilities and Urban Communities plans to offer the first phase of the New Alamein city project in the first quarter (Q1) of 2017, reported Invest Gate.
“Construction companies have begun to carry out construction of facilities and infrastructure in the area designated for the first phase of the project. Once the general plan of the new city is finalized, projects within large areas up to 2,000 acres would be provided to investors,” according to a statement from the Ministry of Housing.
The Ministry of Housing plans to finish construction of the first phase before 2020, on an area of 41,000 acres, in addition to nearly eight thousand acres dedicated to the International Tourism Zone, with 13 kilometers on the shoreline, which would become public beaches.
In 2017, the Ministry of Housing will start the construction of 10,000 units in the New Alamein area. These units will be subsidized by the government, with an aim of encouraging workers to move to new cities.
“The ministry will invite senior tourism investment companies to develop projects immediately after ending the facilities, and the investment would be through the partnership between the government and the private sector, or the division of the land and selling it for big companies, as the Ministry of Housing plans to provide large areas which the government plans to be among the largest coastal cities in Egypt over the next few decades,” explained Hany Younes, the Ministry of Housing spokesman.