The implementation of the New Administrative Capital project has begun, Minister of Housing Mostafa Madbouly announced Saturday, stating that four construction companies have initiated the infrastructure work.
In January 2016, an Egyptian-Chinese alliance was formed following the signing of seven memoranda of understanding (MOU) to implement projects for the New Administrative Capital.
The alliance will construct the new cabinet’s building along with 12 other ministerial buildings, starting with the Ministry of Housing. The alliance will also build a new convention centre, a fairground, and 15,000 residential units for low- and middle-income citizens.
At the inception of the new capital project, which was first launched in March 2014 during the Egypt Economic Development Conference (EEDC), the expected cost of construction totaled $45bn and construction was supposed to take place within a five to seven-year implementation period.
In October, the government announced that the New Urban Communities Authority (NUCA) will provide the initial investments in the project, valued at EGP 5bn.
“The government will pump a percentage of the capital while private companies will provide the rest,” the housing minister previously said.
The capital will be located along the highway connecting Cairo to the Red Sea, providing links to significant shipping routes.
