The government is planning the construction of residential towers and hotel buildings in New Al-Alamein City, Invest-Gate reports.
The projects will be funded by the state-run New Urban Communities Authority (NUCA) and the project tenders will be offered to investors and developers in the upcoming period.
Approximately 5,000 units are being built as part of the first phase of a special housing project in the city spanning an area of two mn square meters worth EGP 8-10 bn. The project is also expected to include middle-income housing and high-end residences.
“There is a special area being built in Al-Alamein City featuring entertainment and touristic places that will be built near the beach, including 25,000 hotel rooms. The new area will be operational all year long,” says Minister of Housing Mostafa Madbouly. The special area was previously a World War II graveyard.
Madbouly adds that the ‘Toursitic Pathway’ in the city, spanning an area of over four km, is among the first projects that will be developed to include hotels and restaurants.
Egypt’s Arab Contractors is currently developing the new international axis road running along the coast of Alexandria-Matrouh that will include five lanes and span an area of 48 km. The company has completed the construction of road pavements.
New Al-Alamein City spans an area of 50,000 feddans and has a 14 km beachfront which is fully operational all year. The project will include industrial zones, universities, schools, and residential projects, according to a released statement.