Egyptian official says work on 2nd phase of Egypt’s administrative to start in 2025 Q2
Date
11/14/2024 2:06:40 AM
(MENAFN) Khaled Abbas, the Chairman of the Board of Directors of the Egyptian Administrative Capital for Urban Development Company, announced that work on the second phase of Egypt’s administrative capital is expected to begin in the second quarter of 2025. The plan for this phase, which is being developed in collaboration with international firms, will involve investments totaling around 250 billion pounds.
Abbas noted that while it is difficult to provide an exact timeline for the duration of the second phase, he expects the construction of infrastructure to be less challenging than the first phase. This is due to the foundational work already completed in the first phase, which is nearing completion.
He further emphasized that the smart infrastructure in the new capital will continue to be developed, with operations managed through a control room. This will allow for the quick identification and resolution of any issues, which will improve resource management and minimize waste and losses.
According to Abbas, the New Administrative Capital has successfully transformed over the past seven years into one of the largest smart cities globally. It utilizes advanced technology, reduces carbon emissions, and provides all the essential services needed for modern living. However, he mentioned that the Board of Directors has yet to set a date for the potential offering on the Egyptian Stock Exchange.
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