“The Administrative Capital is one of the largest technology-based cities in the world”: Eng. Khaled Abbas

Receiving ٣٥,٠٠٠ employees in early ٢٠٢٣ and preparing special entrances for employees

Offering new lands to developers at the beginning of next year and activating the partnership mechanism

Private sector investments of EGP ٣٠٠ billion in the capital

Building a central cooling plant with a capacity of ٦٣,٨٠٠ refrigeration tons

The city is administered by a single governing council

Receiving ٣٥,٠٠٠ employees in early ٢٠٢٣ and preparing special entrances for employees

Offering new lands to developers at the beginning of next year and activating the partnership mechanism

Private sector investments of EGP ٣٠٠ billion in the capital

Preparing to launch a special electronic application to submit designs and issue licenses

Granting some facilities to real estate developers according to their seriousness, represented in an additional period of ٦ months for implementation and another ٦ months for scheduling debts

The new administrative capital represents one of the most prominent cities of sustainable and smart urban communities, which applied, from the first day of its launch, sustainable building standards and used the latest techniques in infrastructure, facilities, transportation and other foundations that are compatible with green construction.

Eng. Khaled Abbas, Chairman of the Administrative Capital for Urban Development Company, stated that the capital is the largest city that depends on smart and sustainable technology and techniques in Egypt, and it will be the largest smart city in the world.

The new administrative capital is preparing to receive state employees and start its official operation at the beginning of ٢٠٢٣.

Eng. Khaled Abbas announced that the work on the project is carried out according to an integrated system, and the transfer of employees to it has not been delayed, noting that January ٢٠٢٣ will witness the start of work in the government district and the gradual transfer of ministries, so that the full transition plan is achieved in April ٢٠٢٣.

He pointed out that special roads will be prepared for the entry and exit of employees, and about ٣٥,٠٠٠ of government employees will move to the administrative capital during the next year.

Smart City

Eng. Khaled Abbas confirmed that the biggest challenge during the next stage is how to manage the place, and one of the most important positive things is that the administrative capital is a smart city in the truest sense of the word so that the place is administered by a single governing council .

He stressed that the capital is one of the largest cities based on the use of technology which offers a special electronic application through which designs are submitted and licenses are issued, an application will also be issued to clarify all new projects for developers in the capital, and it will explain all the details of roads as well as provide all services to citizens in a smart way.

The Administrative Capital owns a security control center

The Administrative Capital owns a security control center that includes equipment, display screens, and modern devices for the purpose of monitoring and controlling the entire neighborhoods of the Administrative Capital, through which all facilities and individuals are fully secured, and police services are integrated with civil defense services and smart traffic systems in a way that secures and facilitates the lives of residents, where the progress of the work was assured and completed in the planned dates.

The City Operating Center

The City Operating Center is concerned with the management and operation of all the administrative capital’s facilities and services in a modern and sophisticated manner, as well as the central cooling station, which operates with a capacity of ٦٣,٨٠٠ refrigeration tons.

He pointed out that the Capital Company is a private company owned by the state and is organized by the private sector regulations, so it is keen to guarantee its rights by studying the technical and financial solvency of the working developers.

Opportunities for developers:

The head of the Capital Company stated that new lands will be offered to developers at the beginning of next year and the mechanism of partnership with developers will also be activated and companies will participate to develop these lands but offers for selling lands have now been stopped as the focus is on granting licenses and accelerating the rates of development.

Some facilities were granted to real estate developers due to the circumstances that the world witnessed, such as the Corona crisis and the Russian-Ukrainian war, as facilities were granted represented in an additional period of ٦ months for implementation, and another ٦ months to schedule debts according to seriousness, he indicated and added that ٩٩٪ of the developers working in the Administrative Capital are serious and committed as there is constant communication with them.

Private sector investments equal about ٣٠٠ billion pounds

The volume of private sector investments in the capital is about ٣٠٠ billion pounds for about ٤٠٠ real estate development companies and the work is currently underway to develop ٤٠ thousand acres out of the capital’s total lands, with a portfolio of ٢٣٠ thousand acres, he explained.

Eng. Khaled Abbas confirmed that the planning of the second, third and fourth phases is currently underway and the size of the assets owned by the Capital Company, ranges between ٢٥٠ and ٣٠٠ billion pounds.

Investment Climate:

Eng. Khaled Abbas called for accurate data to be released from a specific authority on the size of the real estate sector investments and the number of housing units sold, under construction and targeted.

He stressed that it is a must to issue these data by government agency, to support banks in determining the amount of financing risks, so that the problem of the risk ceiling facing workers in the real estate sector can be solved.

The exceptional circumstances require exceptional decisions with controls, and there must be a working group from the private sector, the Ministry of Housing and the Central Bank to review the controls approved by the bank for lending to developers as well as approved by the banks during the next two weeks, and for companies to disclose their data, he confirmed.