The Administrative Capital for Urban Development (ACUD) finalizes designs for a 2000-feddan industrial zone in the NAC and preparations for offering the project to investors within a few months, Invest-Gate reports.

Khaled Abbas, Chairman of ACUD, expects designs to be completed in H2 2023.

In addition, Abbas announces that ACUD received offers from Gulf companies wishing to acquire land, adding that the company is waiting for the completion of the planning of the second phase to elect some of them.

It is worth noting that the New Administrative Capital is located 45 km east of Cairo. The project is being built in several phases.

The area of the second phase is about 40,000 feddans, which is the same area of the first phase, of which 5,000 to 6,000 feddans were sold to the private sector.