The Egyptian urban development plan does not limit only to buildings in new cities far from the center. But also, it is a promising plot to improve the livelihood of Egyptians in all aspects. Establishing mega projects means as well as business opportunities, jobs, and investments.
Setting complex and challenging goals is like making a New Year’s resolution to be on the dot; there are always shortcomings and break-offs to attain these touchdowns. Hence, by venturing to pass timely judgment on the emerging policies and structures, Invest-Gate undertakes a pulse check on the state’s hits and misses on the real estate front, along with the subsectors, during the current year.
In light of the mega development projects planned for Egypt, with much more in the pipeline, Invest-Gate interviews Waleed Abbas, assistant minister for community affairs of the New Urban Communities Authority (NUCA).
As we kick start with 2019, Invest-Gate sits with Deputy Minister of Housing, Utilities, and Urban Communities for National Projects Khaled Abbas to chitchat about Egypt’s real estate market status and where it is going.
Invest-Gate tours some of Egypt's fourth-generation new cities and sheds light on their locations, areas, facilities, and investments.
Since President Abdel Fattah El-Sisi laid the first stone of the New Administrative Capital (NAC), located east of Cairo, back in October 2017, the government has been racing against time and construction works are afoot to deliver the mega project as scheduled. With an area of 170,000 acres, the new capital will include 20 residential areas expected to accommodate 6.5 mn people, as well as a 650-kilometer road network, an international airport, an electric train to link it to 10th of Ramadan and El Salam cities. It will also feature 1,250 mosques and churches, a 5,000-seat conference center, nearly 2,000 schools and colleges, over 600 medical facilities, and a park that is projected to be the largest in the world. Invest-Gate meets Chairman of the New Administrative Capital for Urban Development (ACUD) Ahmad Zaki Abdeen to know the latest development works at the NAC.
Egypt is witnessing a huge transformation across its housing, investment, and services sectors. The launch of the mega projects in new areas are creating new investment and job opportunities, fueling the demand for housing, and thus increasing real estate projects.
Invest-Gate sits with Projects Real Estate Development’s CEO Hossam Bahaa to learn more about their North Coast development, Blues Tiffany, as well as how second home destinations can be turned into a first home destination, and areas they are eyeing for their upcoming projects
Initially founded by Tamer El-Khorazaty and Said Sorour in the early 1990s, Ökoplan is a leading engineering consultancy firm that has a long history of successful projects inside and outside Egypt. With the aim of digging more into the design and architecture industry in Egypt, Invest-Gate meets up with Ökoplan Associate Partner and Business Development Manager Rowaida Rashed to explore the company’s business journey from Germany to Egypt.
