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ROUNDTABLE


Egypt embarked on a host of national projects some years ago to lay out the new infrastructure required for a modern state. The efforts started with an extensive network of roads to connect all the country’s cities with each other, followed by the building of new fourth-generation cities that will provide living areas and services for all social brackets.

The new fourth-generation cities have almost doubled the urbanization rate in Egypt, which for decades stood at around seven per cent of the country’s total area.

The road networks established in recent years have facilitated access to areas targeted for development and encouraged investment by decreasing the cost of transportation. The new cities provide for diverse activities to support their inhabitants.

OPPORTUNITIES:

  • Raising the current demand in the new cities (NAC/ Alamein).
  • The role of developers in achieving urban development in fourth generation cities.
  • The role of cooperation between the government and the private sector to implement various projects in new cities.
  • Achieving sustainability in fourth generation cities.
    • - There is a global transformation towards the sustainability of real estate, as a major solution to face the ongoing environmental changes.
    • - Following Egypt’s vision for sustainable development 2030, the country will host “COP 27” in November 2022 in Sharm El-Sheikh.
    • - The best solution to reduce the negative impact of the real estate sector on climate change.
    • - Egypt’s plan to go for LEED certified buildings, as Egypt has only 23 certified ones.
  • High return on investment, especially in the NAC.
  • How can the new cities attract more foreign investment, supporting the export of real estate (transforming New Alamein to be a global destination)?
  • How to market the investment opportunities available in the new cities inside and outside Egypt (the government / developers)?

CHALLENGES:

  • Obstacles facing the implementation of the timetable for new cities (such as the government’s movement to the NAC).
  • The repercussions of global economic crises (inflation/Ukrainian crisis) on new cities.
  • The most prominent problems facing investors in the new cities (conditions/prices).
  • Setting facilities to attract local, Arab, and foreign investors.
  • The prominent proposed amendments to the provisions of the immediate allocation mechanism of land in new cities.

Agenda


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