Deputy Minister of Housing, Utilities, and Urban Communities for National Projects Khaled Abbas announced on June 17 the inauguration of New Alamein International University for Sciences and Technology in the North Coast, with the first academic year scheduled to commence as of next September, Invest-Gate reports.

In addition, three new faculties will begin to host students at New Mansoura University starting 2020, Abbas revealed during the second day of a series of bilateral meetings between Egyptian and Saudi investors, part of a wider five-day program that also includes tours and visits to new major developments and national projects in Egypt, which is jointly convened by Egyptian Businessmen’s Association (EBA) and Council of Saudi Chambers at Intercontinental Semiramis Hotel.

Furthermore, Abbas uncovered that the government has recently launched 42 new cities, of which 20 are under establishment. With regards to the New Administrative Capital (NAC), implementation work at R5 residential district is 17% done. Meanwhile, concrete works at the new city’s Central Business District (CBD) is completed, while concrete structures will soon be developed on-site.

On the meeting’s first day, Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said the government is moving forward with the National Strategic Plan for Urban Development of Egypt, naming some mega national projects such as Dabaa and New Alamein, and revealing plans to establish more developments in Marsa Matrouh and Beheira provinces.

“The government mulls a new mechanism to involve real estate developers in social housing projects, which is expected to be activated within a few weeks,” El Gazzar indicated, pointing out that the state is also trying to facilitate the procedures of land acquisition in a way that guarantees high quality and low prices for end consumers.

The conference comes in the attendance of Chairman of General Authority for Investment and Free Zones (GAFI) Mohsen Adel, MENA Group’s Founder Fathallah Fawzy, Chairman of National Real Estate Committee at the Council of Saudi Chambers Hamad Bin Ali Al-Showair, alongside a number of Egypt-based real estate developers, including City Edge Developments, Tatweer Misr, Iwan Developments, to name a few.