Egypt’s property developer firm Mabany Edris plans to execute a new residential and hotel flagship in the country’s new administrative capital city within the next period, said its chief executive Mohamed Edris on Tuesday.
“This comes as part of the company’s scheme to expand its business volume in the local market,” Edris further told Amwal Al Ghad.
Located some 40km (24.8 miles) to the east of Cairo, the under-construction new capital 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 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.