Ibrahim Ismail, Executive Director of the Cairo Used Car Market, has revealed that the Nasr City used car market will move from its current location in the 10th district.
Ismail said that the strategic plan will take place, given that the ongoing bridges development work in the area will impede the market’s reopening. It closed in March as a result of the novel coronavirus (COVID-19) outbreak.
The construction work that is currently taking place in the grand square and the Mustafa Al-Nahhas, Ahmed Al-Zomor Road and Al-Nasr Road area, around the automobile market, will see a number of roads and bridges developed.
With the infrastructural redevelopments taking place, they have now become an obstacle for the market to return working as usual.
Ismail said that the market will return in September, but its opening was postponed indefinitely. Once all construction work of these bridges is completed, the market would not be a suitable place to receive potential buyers.
He added that the agency said its strategic plan was to move the market from its current locations, to one of two areas offered, namely the Al-Wahat Road and Katameya. A comparison is currently being made by the concerned authorities to choose the best location.
The cost of moving the market from its current location, after choosing the appropriate place on an area of 35 feddans, and providing all the necessary services to the citizens inside it, is estimated at EGP 400m.
The executive body plans for the new market to include some services for citizens, including investment banks, car inspection centres approved by the governorate, cafeterias, private driving schools, and a health unit.
The car market was established in 2003 in Nasr City’s 10th District, on an area of 35 feddans. It is one of the largest markets in Egypt for selling used cars, and can accommodate approximately 5,400 cars, including passenger cars and trucks. It has several administrative buildings, including a Land Registry Authority building and car inspection areas.
Cairo Governor Khaled Abdel Aal issued a decision in mid-March to close the car market. The decision came as part of a series of measures taken by the Cairo Governorate to implement the directives of Prime Minister Mostafa Madbouly to prevent gatherings to counter COVID-19.
Ismail noted that traders and citizens still go to the side streets near the market, despite its closure, to buy and sell. This is an illegal matter and violators must be strictly dealt with by the governorate and the Traffic Authority.
