Bruno Nabagné Koné, Minister of Housing of the State of Côte d’Ivoire, and Timothy Ezouan, Ambassador of Cote d’Ivoire in Cairo, and the accompanying delegation visited the New Administrative Capital (NAC), to know about the urban experience during El-Sisi era, and benefit from the projects that are being implemented in Egypt, Invest-Gate reports.
The visit begins from the headquarters of the NAC Authority, where they are welcomed by Abdel-Muttalib Mamdouh, Vice President of the New Urban Communities Authority for the development sector and cities development, and Sherif El-Sherbiny, Head of the NAC Authority and officials of the Authority, Invest-Gate reports.
During the visit, a meeting is held between housing officials and the delegation of Côte d’Ivoire State, which deals with the idea of establishing the New Urban Communities Authority, and the urban expansion in Egypt since the establishment of the Authority. Answering the delegation’s inquiries and questions, including a question about the financing plan for the projects and the financing part of the authority, as it is reported that all the new cities are being implemented are owned by the Urban Communities Authority, unlike the NAC, which is an Egyptian joint-stock company.
Additionally, the projects are financed through the sale of lands not state budget, as the company implements the main facilities, while the rest of the construction is implemented through the real estate developer. The financing situation in the present is very good, and all companies operating the NAC are all Egyptians companies, and the only foreign project is The Central Business District project, which is being implemented by a Chinese company in partnership with the New Urban Communities Authority.
The delegation also asked about the ministries’ buildings that have been implemented, whether they have a specific idea inimplementation, and is the authority independent or not? Where it is reported that all ministries have one character in the architectural style and that the Urban Communities Authority is an economic body with an independent entity, affiliated with the Ministry of Housing which has its own law regulating work, and there are entities in the governorates represented by the new city agencies, and it was established as an economic body that finances itself by selling the lands under its jurisdiction in accordance with republican decisions, it is a government agency in the end.
A delegation member asks: As for the housing and residential buildings axis, are the units sold, and what is the proposed price? The response is that the most important axis in housing after the January 25, 2011 revolution is social housing, and the units were allocated to the low-income category, as hundreds have already been implemented. This project was very popular with the Egyptians, while the rest of the housing patterns are supply and demand and vary between medium housing, distinguished housing, and luxury housing.
Regarding ways to benefit and what are the facilities for social housing? some controls are set and announced in advance with the knowledge of the Social Housing and Real Estate Finance Support Fund, including determining the salary or monthly income, and the applicant must not have benefited before that by a unit Subsidized housing, in addition to the down payment and the rest installments of the unit price through Egyptian banks, with easy payments.
After that, the delegation toured the projects being implemented in the NAC, starting with the 3rd residential district R3, which includes buildings and villas, then the government district and passed through the towers area.
At the end of the visit, the delegation members expressed their admiration for the achievement they noticed.