Egyptian joint stock contracting company, Construction and Design Co. (CONSTEC) submitted a request for implementing 30.000 housing units in the first phase of the proposed new administrative capital city, its managing director Talaat Fawzy said Sunday.
Fawzy told Amwal Al Ghad that his company could efficiently carry out the housing units within a shortened time frame due to its considerable experience in developing housing projects.
CONSTEC has officially represented its scheme to the Armed Forces Engineering Authority, awaiting its approval to commence works officially in the project.
Egypt is planning to build a new administrative and business capital east of Cairo that will house five million people and feature a theme park “four times bigger than Disneyland”.
The yet unnamed new capital city would relieve pressure on overcrowded Cairo, with its population of 18 million expected to double in coming decades. It will take from five to seven years to be constructed; to be located between Cairo and the Suez Canal region.