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.
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.
