Thursday 21 Nov
The New Administrative Capital for Urban Development Company has commenced planning for the second phase of this mega project, which will be equivalent in size to the first phase at 40,000 acres.
According to the company's
chairman, Engineer Khaled Abbas, the plan includes investing 250 billion
Egyptian pounds in the infrastructure of the second phase. He noted that the
company has completed all the basic infrastructure in the first phase,
including water, sewage, and electricity stations.
Abbas highlighted the project's investment appeal, noting that residential land prices have quadrupled since the 2018 launch. Strong corporate interest in the project has also driven demand. Of the 24,000 development acres in phase one, around 19,000-20,000 have been sold, leaving 4,500 available. Both these remaining plots and land in the upcoming phase two are in high demand.
