Egypt’s IDG to finalise developing 500,000 sqm in New Alamein by 2020
Egypt-based Industrial Development Group (IDG) says it is seeking to complete utilising and developing 500,000 square metres out of 2.7 million square metres in New Alamein City by mid-2020.
IDG, an industrial arm of Egyptian contractor Samcrete, had received the land plots from the New Urban Communities Authority (NUCA) last May, said its managing director Sameh Attia on Wednesday.
In addition, IDG is planning to receive other 500,000 square metres within one year, Attia further told Amwal Al Ghad.
“IDG’s land portfolio reaches around 21.8 million square metres, including 2.7 million square metres in New Alamein,16 million square metres in Ain Sokhna, East Port Said, and 3.1 million square metres in Sixth of October cities,” he said.
IDG is a shareholding company with joint Egyptian, German, U.S. investments; 80 percent of which is Egyptian capital, while 70 percent of that is Samcrete investment.
On March 1, Egyptian President Abdel Fattah al-Sisi inaugurated the first phase of New Alamein City project that will include a national university that comprises a bunch of applied science faculties, an opera house, a library, and a museum.
New Alamein is located northwest of Cairo on an area of more than 48,000 feddans (49,824 acres) in Alamein town on Egypt’s Mediterranean coast.
New Alamein is one of the fourth generation cities being built in Egypt in some of the most up-to-date architectural styles, and is scheduled to be finalised in one-year timeframe. It is expected to accommodate 400,000 populations.
The anticipated city is designed to include 5,000 housing units to accommodate over 400,000 inhabitants and to have universities and schools as well as various services and tourist activities.