Monday 23 Dec
Administrative Capital Development Company (ACDC) is poised to allocate land to Polaris Parks, a Turkish industrial developer, within the upcoming industrial zone on Ain Sokhna Road, according to ACDC Chairman Engineer Khaled Abbas. The company has seen a surge in interest from industrial developers and investors seeking land in this prime location.
Abbas made this announcement at
the opening of Cityscape Egypt's 13th edition, themed "Egypt's Real Estate
Renaissance: Building the Future of the Sector." The event, organized by
Informa and held under the auspices of the Ministry of Housing, Utilities, and
Urban Communities, runs from September 25 to 28. It attracts a diverse range of
stakeholders, including government officials, business leaders, and real estate
investors.
ACDC is currently developing the
area's master plan and connecting essential utilities to facilitate seamless investment
within this huge city, which is poised to launch its second phase.
Abbas further noted that the
Administrative Capital, once merely a concept in 2016, has materialized into a
tangible reality. For the past year, the government has been fully operational
from its new headquarters, with government buildings accommodating
approximately 50,000 employees. The capital now boasts a residential population
of over 7,000 families, enjoying a comprehensive range of services and an
impressive average green space per citizen of 15 square meters.
"The Administrative Capital
is defined by three key elements: sustainability, green practices, and smart
technology," Abbas explained. "Fifty percent of building roofs are
equipped for solar energy generation, and we've introduced green building
certifications to promote sustainable development. The city is managed through
advanced technology, utilizing two city control centers, with the ultimate goal
of enhancing quality of life."
"The Administrative Capital Development Company has generated pre-tax profits of approximately 54 billion Egyptian pounds," he added.
