New Administrative Capital: Overcome Crowd in Cairo
Posted On October 24, 2017
Population congestion in Cairo causes a lot of problems such as traffic congestion, spread of diseases, and air pollution as Cairo's population has raised up to 22 million people. That’s why, it was crucial to build a new capital to overcome the crowdedness in Cairo, provide new job opportunities, increase the investment, and keep the country up with the cultural and technological growth in the world.
The total area of the new capital is nearly 168 thousand acres equivalent to the entire area of Singapore. Also, it’s expected that the first phase -which its area equals 10 thousand acres- will bear about 7 million residents.
The new capital is divided into a number of districts such as Mohammed Bin Zayed north Area, conference center, exhibition city, government district, residential neighborhood -which the Ministry of Housing intends to implement almost 25 thousand housing units in it, medical city, sports city, central park; which it's size is two times and half the size of the central park in New York, and the smart city.
The new capital is located in a strategic location. It is after the New Cairo, between Cairo Suez and Cairo Ain Sukhna roads. It is 60 km from Ain Sukhna, Suez, and downtown Cairo.
Also, Mohammed Bin Zayed Road is expected to be ready soon as it’ll be the main road that leads to the new administrative capital.
In addition, there is a number of large companies that participate in the construction of this huge project. These are:
- Talaat Mostafa,
- The Arab Contractors,
- Allam Sons,
- Orascom Alliance,
- Petrojet Contracting Company,
- Nile Valley Company,
- Egyptian - Spanish Alliance,
- The Chinese company "CSCEC".
A few days ago, the construction of the first phase has been started and Almasa Hotel which is opposite to the Midtown project, was opened as well.
As for the meter price, the land that will be offered to real estate developers and investors will range from 3500 to 5000 pounds.
The New Administrative Capital is a good start for investment !