Egypt will deliver 2,048 units to next June
According to Egypt minister of housing, the New Urban Communities Authority (NUCA) will start handing over the first phase of R3 complex at the New Administrative Capital in June.
Khaled Abbas, Egyptian assistant minister of housing, said that the units will be fully completed by the end of this year.
In addittion, he added that construction work at the new capital’s villas area and towers area have reached an advanced stage.
Besides, Eygpt’s Prime Minister attended on Thursday the signing of three partnership contracts between Egypt’s NUCA and real estate developers to execute investment and development projects in new urban communities.
The projects are to be constructed on a total area of 849 acres on a number of plots in the cities of Sheikh Zayed and 6 October, with the aim of pumping investments of about EGP 93.5 billion and providing 163,000 direct and indirect job opportunities.
The agreement with SODIC involves the construction of an integrated urban community on the Dabaa axis, the western extension of Sheikh Zayed City, on an area of 500 acres with an expected EGP 29 billion in investments and 100,000 job opportunities.
The agreement with Arkan Palm involves the construction of an integrated commercial, administrative, medical, and recreational complex overlooking the 26th of July Axis in Sheikh Zayed City, on an area of 205 acres and at an expected investment cost of EGP 59 billion, providing about 57,000 job opportunities.
Source: Zawya/ Ahram
Fulya Altunyay/ [email protected]