New Administative Capital- File Photo
CAIRO- 24 August 2017: Minister of Housing Mostafa Madbouly announced on Thursday the commencement of the construction of a residential district for employees of the government at the New Administrative Capital.
Madbouly explained that 2,000 residential units will be launched soon for buyers out of 25,000 units planned in that district.
The residential district will have youth centers, schools and hospitals, with all units expected to be ready by March 2018, Madbouly said, according to a statement from the Ministry.
Located 45 kilometers east of Cairo, President Abdel Fatah al-Sisi announced in 2015 the building of a new city to be a new administrative and financial capital of Egypt.
The New Administrative Capital, which is currently being developed by the New Administrative Capital for Urban Development, is planned to include 21 residential districts, educational institutions, hospitals, 40,000 hotel rooms, a theme park, solar plants and a new international airport.
Land plots in the new capital have already been launched for investors and developers, who are interested in participating in the mega project.
Participating developers until now are the Arab Contractors Company, Concord for Engineering and Contracting Company, and Talaat Moustafa Group Holding Company.