CAIRO, July 11, 2018 (MENA) - Prime Minister and Housing Minister Moustafa Madbouli said several ministerial decisions were issued over the past three weeks to approve designs of seven new projects in the New Administrative Capital, some 50 km east of the capital Cairo.
The new projects covering 1,057 feddans, will be set up in the first stage of the New Administrative Capital, Madbouli said in a statement by the Housing Ministry on Wednesday.
The new projects will provide more than 40,000 direct and indirect jobs and will push forward the development process in the new capital, he added.
Meanwhile, dealing with development projects in October 6 City, Prime Minister Madbouli pointed out that total investments spent by the city council on development projects in 2017/2018 fiscal year hit LE 6.9 billion.
The initial plan in this regard stood at LE 5.7 billion, he said, adding that this means that investments surpassed the planned funding by LE 1.2 billion pounds.
These investments are channeled to projects in the sectors of sanitary drainage, water, roads, electricity, low-cost housing and telecommunication, he added.
CAIRO, July 3, 2018 (MENA) - Chairman of the Financial Regulatory Authority (FRA) Mohamed Omran said Egypt's New Administrative Capital can set an example that can be emulated in other green cities around the world.
He called for mobilizing efforts for encouraging eco-friendly projects, decreasing thermal emissions and increasing greenery in residential areas.
This came on Tuesday during Omran's participation in the activities of the inaugural session of Astana conference for sustainable financing held for two days in Kazakhstan.
According to a press statement by the authority, Omran urged the governments of the emerging economies to adopt green economy systems.
He underlined the importance of the role played by stock markets and non-banking financial activities in mobilizing savings and making perfect use of available resources to achieve green and sustainable development.
Omran will ink, on the sidelines of the event, a memorandum of understanding between the Financial Regulatory Authority (FRA) of Egypt and Astana Financial Services Authority (AFSA) to promote cooperation and exchange of know-how.
The Astana Financial Services Authority (AFSA) was launched on 1 January 2018 as the independent regulator of the Astana International Financial Centre (AIFC).
AFSA is a regulator of both financial and non-financial services activities. It regulates Centre Participants carrying out financial and ancillary services and capital markets activities within the territory of AIFC. AFSA is also the regulator of companies registered
by the AFSA that carry out non-financial services activities.
CAIRO, June 24, 2018 (MENA) - Egypt's Prime Minister and Housing Minister Mostafa Madbouli on Sunday made a field visit to an under-construction residential district in the New Administrative Capital, a few days before housing units are offered for sale.
The premier had a meeting with senior officials of companies that are carrying out the project, urging them to step up the implementation rate, said the Housing Ministry in a press release.
He told them that according to presidential directives the residential district should be ready for housing before June 30, 2019.
"Therefore, each company must strictly abide by the deadlines for completion of its units. Landscaping for the buildings that have been completed should be also finished on schedule", the PM was quoted as saying.
On the implementation of the residential district, which is overseen by the Ministry of Housing, Eng. Mohamed Abdel Maksoud, the head of the New Administrative Capital, said the residential district covers an area of 1,000 feddans. It contains eight neighbourhoods with 699 residential buildings that include 19,992 housing units plus 952 villas and townhouses.
It also includes 64 multi-purpose buildings and nine buildings in the Green Oasis area, which in turn houses the central services of the district, he added.
According to the construction plans, the area will have a total of 23,064 residential and commercial units, he also said.
He noted that finishing touches of the first stage of the residential buildings were being implemented at an execution rate of 80 to 85 per cent.
CAIRO, May 27, 2018 (MENA) - Prime Minister Sherif Ismail held a meeting on Sunday to follow up construction work at the government district in the New Administrative Capital.
The meeting was attended by ministers of housing, communications, transport, planning as well as head of the Armed Forces' Engineering Authority and representatives of some bodies concerned.
At the start of the meeting, Sherif made clear that the aim behind the relocation of the government to the administrative capital is to develop work mechanisms of the administrative apparatus of the State and provide a better atmosphere for servicemen to make the best use of their potentials.
The head of the engineering authority updated Sherif on work progress inside the government district which is built over 500 feddans.
The district will house several government buildings and headquarters of the cabinet and the parliament.
The government district project is carried out by 12 Egyptian contracting companies.
Planning Minister Hala el Saeed said all ministries will be relocated to the new capital at the same time then government-affiliated bodies will follow suit.
By: Ashraf Sadek
CAIRO, May 11, 2018 - Pursuing his field visits to developmental and production projects, President Abdel Fattah El Sisi on Friday inspected the progress of works to build the New Administrative Capital that is located on the outskirts of Cairo.
In comments after the visit, President Sisi said that he was quite pleased with what he had seen in the progress of works in that project, which is being implemented in line with the highest world standards.
“I am quite pleased with the accomplishments that are being made by Egyptian hands in the New Administrative Capital,” President Sisi wrote on his official Facebook Page.
Envisaged under the project's master plan is the building of an integrated set of utilities and services that can establish the city as a model for new communities where dwellers find befitting housing and comfortable living conditions.
The New Administrative Capital has been also been designed to offer a suitable environment for all international companies.
It will be a smart city that relies on modern and advanced systems in its management. It will also have special social housing units so as to meet the needs of the civil servants whose work will be transferred at various ministries there.
During his inspection tour, President Sisi, who has been named as one of the most powerful political leaders in the world by Forbes magazine, visited a giant mosque that is being built by the Arab Contractors Company on the outskirts of the New Administrative Capital.
The construction of el-Fattah el-Aleem (Arabic for the Opener and Knowledgeable) Mosque started last year.
About 60 per cent of the construction works of the mosque are almost complete.
The mosque, which occupies an area of 121,800 square metres, can accommodate up to 12,300 worshippers, the Chairman of the Military Engineering Authority, Major General Kamel el-Wazir, who accompanied the President during the tour, told reporters.
“The mosque has two separate prayer halls. One is for men and the second is for women. It also has a Koran teaching school, an auditorium, and a place for holding funerals,” Maj. Gen. El-Wazir said.
CAIRO, May 11, 2018 (MENA) - Egypt's President Abdel Fattah El Sisi on Friday went on an inspection tour of construction works in the New Administrative Capital.
President Sisi talked during his tour with officials in charge of the project and listened to an explanation of the work that is achieved so far.