Egypt to develop PPP services flagship in new capital in 2020
Egypt’s state-run Administrative Capital for Urban Development (ACUD) plans to develop a public-private partnership (PPP) services flagship in the new capital within 2020, a source in the company said on Thursday.
The flagship will be carried out in partnership with a foreign firm, the senior official source told Amwal Al Ghad, without identifying the name of the firm.
ACUD is receiving offers from global investment entities to execute some major commercial, hotel, medical, and educational projects in the new capital, he added.
“The company (ACUD) is looking to promote the new capital project in a number of Gulf countries,” he said, referring to a planned roadshow taking place in the GCC within 2020.
Located 45 km (28 miles) east of Cairo, the anticipated new capital city is part of the Egyptian government’s plan to expand urban areas to deal with the state’s rapid population growth and improve the nation’s infrastructure.
The large-scale city will be a 270-square-mile hub with 21 residential districts to accommodate five million people.
The new capital is set to feature 1,250 mosques and churches as well as 5,000-seat conference center, nearly 2,000 schools and colleges, over 600 medical facilities, and a park that is projected to be the world’s largest.