Eng. Khaled Abbas, Chairman and Managing Director of the Administrative Capital for Urban Development (ACUD), took part in the Second Qatar Real Estate Forum at the Doha Exhibition and Convention Center under the auspices of the Qatari cabinet, in collaboration with Cityscape, focusing on the theme “Aqarat’s Future”, Invest-Gate reports.

In his address, Abbas highlighted the ongoing efforts to establish the New Administrative Capital (NAC) as a hub for cutting-edge ideas and technologies, adhering to the highest global standards in its urban design while offering state-of-the-art facilities and infrastructure.

He emphasized that the NAC is pioneering fiber optic internet connectivity, reaching all structures and amenities with speeds of up to one gigabyte per second. The city’s design encompasses various objectives, including the provision of sustainable green spaces and the integration of smart features, alongside the delivery of intelligent electronic services across different spheres of life. Collaboration with nations like China, the USA, and Europe ensures the integration of global expertise and technologies, reflecting universal technological applications.

Additionally, Abbas noted the inauguration of the first real estate sector startup incubator, aimed at equipping them with optimal solutions and methodologies to enhance their effectiveness in proptech. Proptech, a fundamental component, is envisioned as pivotal in shaping Egypt’s urban development future.

Expressing the company’s ambitious outlook, Abbas emphasized the deployment of advanced technologies to foster smart cities that offer a sophisticated standard of living through comprehensive technological solutions. He asserted that proptech stands as a linchpin in achieving sustainability, catering to the demands of advanced societies, and is pivotal in evolving the NAC into an innovative, technology-driven smart city.

Furthermore, Abbas highlighted that the government, with all its ministries headquartered in the NAC, has operated from the site for nearly a year, employing approximately 50,000 individuals. Plans are in place for the Parliament and the Senate to commence operations in the final quarter of this year. Presently, around 1,000 families reside in the NAC, with projections estimating this figure to increase to approximately 7,000 families by year-end.