Egypt’s New Administrative Capital Company for Urban Development plans to launch around 25,000 fully furnished housing units at the third residential district in the country’s new administrative capital project within 2018.
The third district was established by New Urban Communities Authority (NUCA) over 1,050 feddans during two years, said Magdy Amin, chairman of real estate sector at New Administrative Capital Company, on Thursday.
“It (third residential district) will include eight residential neighborhoods,” Amin stated, adding that 28 real estate firms have so far attained 2,064 investment land plots in the new capital.
Located some 40km to the east of Cairo, the under-construction city is part of the government’s plan to expand urban areas to deal with the country’s rapid population growth and improve the nation’s infrastructure.
The new capital city will be a 270-square-mile hub with 21 residential districts to accommodate five million people.
It will feature 1,250 mosques and churches, a 5,000-seat conference centre, nearly 2,000 schools and colleges, over 600 medical facilities and a park that is projected to be the world’s largest.