Prime Minister, Mostafa Madbouly, inspects the work progress of projects in the New Administrative Capital (NAC) in an eight-hour tour, Invest-Gate reports.
During the tour, Assem El Gazzar, Minister of Housing, Utilities, and Urban Communities, reviews the progress of the projects in the R3 District, which are 93% complete.
The R3 District is built on an area of 1016 acres, at a cost of EGP 25 bn. It comprises about 24,000 housing units, varying between housing buildings, villas, townhouses, and mixed-use units. Additionally, it features commercial buildings, nurseries, restaurants, six schools implemented by the private sector, as well as worship houses.
El Gazzar states that the fourth and fifth neighborhoods include 485 villas, with 952 housing units, and with a completion rate of 92%. For the housing units in the district, they are 100% complete, with a total of 239 building comprising more than 7,000 housing units.
Moreover, the minister adds that the second neighborhood witnesses the implementation of 139 buildings, with a total of 3,920 housing units, which are 93% complete, in addition, the third neighborhood includes 92 buildings, around 2,568 units, with a completion rate of 95%. Meanwhile, the seventh neighborhood contains 10 housing buildings, a total of 316 units, with a completion rate of 90%.
Besides, the 64 housing buildings, around 2,560 units, for services and mixed-use are at advanced completion rates and are expected to be delivered in October 2021.
Moving to the R5 District, New Garden City, it spans over 885 acres and encompasses about 23,000 housing units, including housing buildings, villas, mixed-use, and townhouses, the ministerial statement adds.
El Gazzar confirms that the completion rate of concrete work is 98.5%; meanwhile, the finishing work rate reaches 20%, and 60% for road networks, pointing out that the facades of the project are scheduled to be completed by the end of 2021.
Moreover, the tour includes an inspection of the Green River project, which is being built on an area of about 870 acres, including 688 acres of green spaces and entertainment areas, in addition to 182 acres includes future investment projects and the towers area. For the completion rate, it is implemented at a rate ranges between 56.6% and 60.6% for the three sectors forming it.