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New US $32bn urban residential project to be developed in Capital Gardens, Egypt

A new US $32bn urban residential project is set to be developed in Capital Gardens, along the Cairo-Suez highway near Egypt’s new administrative capital. This is after the New Urban Communities Authority, affiliated to the Ministry of Housing, Utilities and Urban Communities signed a contract to sell over 5000 acres of land to Talaat Mostafa Holding Group to implement the project.

The contract was signed by Mr Ahmed Saeed Ali, Vice President of the New Urban Communities Authority for Financial and Administrative Affairs, and Mr. Hisham Talaat Moustafa, Chairman and Managing Director of the Arab Company for Projects and Urban Development, in the presence of Dr. Assem Al Jazzar, Minister of Housing, Utilities and Urban Communities.

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According to the Minister of Housing, Utilities and Urban Communities, the contract signing comes in line with the President Abdel Fattah El-Sisi directions to expand the urbanization and attract more residents to the new communities.

“This project will include all types of housing. The percentage of housing in the project will be on a total of 50% of its area, about 2500 acres, including buildings and villas ranging from 50% to 45% of the housing area, in addition to various public services equivalent to 4% of the total area of ​​the project which include fire stations, post offices, and police stations. The project will also include a service area on 8% to 12% of the total area for its residents, that incorporates private and international schools, international hospitals, and clubs. The services reflect about 8 to 12% of the total project area,” said the minister.

The new urban area will also include various service activities on an area of ​​nearly 6000 acres, which involves schools, hospitals, universities, an Olympic city, an exploratory science city, as well as commercial and entertainment areas. The city will be surrounded by green areas, bicycle paths, open areas, and exercise paths to encourage residents to follow a healthy lifestyle. Additionally, an industrial zone occupying an area of ​​2800 acres that includes light industries, craft area, a logistical area, research centers, and a smart village will also be developed.

Also Read: First tower complete in Egypt’s New Administrative Capital

Capital Gardens

Capital Gardens is a new urban area on Cairo Suez axis, in front of the New Administrative Capital that is based on the the President’s decision No. 645 of 2020 which allows the allocation of ​​approximately 29435.5 acres for the construction of the city. The decree includes all types of housing on an area of ​​approximately 12000 acres, including luxurious and unique housing ‘integrated urban activities, villas and buildings’, in addition to medium housing, including an area of ​​2350 acres under implementation within the housing project for low-income following the initiative of the President Abdel Fatah El Sisi ‘Residence for all Egyptians’.

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Dennis Ayemba
Country/ Features Editor, Kenya

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