Egypt’s housing ministry has finalized 82% of the 15 coastal towers, or 4,500 residences, being undertaken in New Alamein, finishing 34 out of 41 floors at some of them, Invest-Gate reports.
Besides, works have commenced on three other towers, coming as part of the megaproject’s phase II which will feature ten additional coastal towers, according to an official statement on November 30.
The announcement came during Minister of Housing, Utilities, and Urban Communities Assem El Gazzar’s visit to New Alamein to review the latest updates, where he stressed that the finishing works are being carried out in parallel with construction works.
During the tour, El Gazzar inspected the new city’s recreation area, which is positioned at the center of the beach towers area, overlooking the sea directly and including a 3,000-car garage, a boutique hotel, as well as, an assortment of shops and restaurants. The zone has reached a completion rate of 65%, with several commercial units already marketed under the usufruct system, the statement added.
The minister also followed up on the 700-acre mixed-use compound, or “Mazarita.” He emphasized that five contractors are working on-site to implement about 10,000 residential units, varying between apartments, chalets, and villas, in addition to various service and recreational projects.
On the sidelines, El Gazzar highlighted that New Alamein is gearing up to host two Arab and African canoe-kayak championships, coming under the patronage of the Holding Company of Water and Wastewater (HCWW) and Arab Contractors from December 9 to 13, with the participation of 22 regional countries.