New administrative capital will be built in Egypt

14.03.2015 18:30

Egypt officially announced plans to build the administrative capital to the east of Cairo, where will be mainly public institutions and diplomatic missions. According to 365news.biz, the construction will last for 12 years, and $65.33 billion will be allocated for it. Meanwhile, the authorities plan only design work - to sign a contract for the development of the city with the famous developer, whose name has been kept secret.

When the first talk about the new capital began, the head of the Advisory Council reported that Egypt needs such a city. Then the society negatively perceived the news, as the economic situation of the country is not the best. But people calmed down after they learned that the UAE will build objects, notes planeta-turizma.com.

According to Turan agency, they can become a developer of the skyscriper Burj Khalifa known investor Mohammed Ali Alabbar, developer Majid Al Futtaim billionaire, one of which is known for his project Mall of the Emirates (this is a huge trade association, within which is an equipped with a ski slope) as well as a lover of skyscrapers, Khalaf Al Habtoor. All of them are from the UAE.

Egyptian Investment Minister Salman Ashraf claims that the final decision regarding the construction of an administrative center of the country will be adopted by the Conference officials, planners, builders and other interested parties in the project, which will take one of the government agencies in Sharm el-Sheikh, said 365news.biz.

Date of the decisive meeting is March 2015. The name of the New Town is not known yet - this problem is in the minds of many people. The supposed land for future populated center is at least 28,000 hectares. The city will be the center of all important state institutions - far-sighted decision.
There will be residential, industrial facilities, shops and other attributes rather big city, which will play a major role in the life of Egypt. Business people together with members of the government are convinced that the new capital will push the restoration of Egyptian objects local real estate market.

Egyptian authorities have promised to create the most comfortable conditions for tourists. Probably some artifacts will transported to the new capital of Cairo, reports planeta-turizma.com.

ANN.Az

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