Arab Contractors: ongoing works on Egypt new capital city exceed 2 bln pounds

Egypt’s Arab Contractors takes the lead in the volume of mandated works in the country’s new administrative capital city, carrying out a total of more than 2 billion Egyptian pounds ($108.5 million).

The company implements residential buildings and infrastructure works in the Government District in Egypt’s anticipated administrative capital city.

“We are currently carrying out 78 residential buildings in two phases in addition to the main utilities network in the Government District, including water and sanitation lines and roads.” Sayed Farouk, vice chairman of Arab Contractors told Amwal Al Ghad.

Egypt unveiled plans for what it presented as a new administrative capital at an economic development conference earlier in March 2015, which was attended by 2,000 delegates from 112 nations, including heads of state, top multinational company executives and directors from the World Bank and the International Monetary Fund.

The city will be built east of Cairo, between Cairo and the planned Suez Canal hub north west of the Gulf of Suez. It will include 1.1 million residential units to house five million inhabitants, as well as an administrative district on 550 feddans of land, with a presidential palace, ministries, government bodies, and embassies, as well as a financial district, according to the plan.

The implementation rate in the capital city works is exceeding 60 percent, Farouk said.

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