70% of New Administrative Capital’s land sold

CAIRO – 5 December 2018: About 70 percent of the lands of the New Administrative Capital's first phase have been sold, according to project spokesperson Khaled el-Husseiny on Wednesday, Dec. 5.

Husseiny said that this percentage represents a total of 17,000 feddans of the capital. “There is a strong political will to develop the Egyptian promising capital in order to be a real model for a smart city,” Husseiny added.

The holding company responsible for the capital is facilitating all the procedures to the parties, entities and organizations that wish to be part of the new capital, according to Husseiny. “We received plenty of requests from foreign investors, developers and companies to invest in the new capital,” he referred.

On Tuesday, Husseiny announced that the new capital has received about 50 requests from embassies and diplomatic missions to relocate to the new Capital.
Also, new international universities relocated or opened new branches in the new capital.

Minister of Higher Education and Scientific Research Khaled Abdul Ghaffar announced in November 2017 that the new capital will include six international universities from the United States, Britain, Hungary, Canada, Sweden and France.

In April 2018, Canada’s University of Prince Edward Island inaugurated its international branch inside the capital to be the first to do so.

With an area of 170,000 feddans (176,460 acres), the new capital will include 20 residential areas expected to accommodate 6.5 million people and a road network of 650 km in length. The capital will include an international airport and an electric train to link it with the 10th of Ramadan and El-Salam cities.

Also, it will feature 1,250 mosques and churches, a 5,000-seat conference center, nearly 2,000 schools and colleges, over 600 medical facilities, and a park that is projected to be the world’s largest.