Eng. Khaled Abbas: The New Administrative Capital (NAC) promotes major opportunities

The year 2023 witnessed a significant transformation in the history of the New Administrative Capital (NAC)، which is considered one of the most prominent fourth generation city projects in Egypt and is considered also integrated communities، as well as smart، sustainable financial and business centers، while last year witnessed the transfer of ministries and the government beginning to exercise its duties from the new capital of Egypt، and the emergence of features of many major development projects.

Opportunities، including an industrial zone in MIPIM2024

The Administrative Capital for Urban Development Company، the general developer of the New Administrative Capital project، is participating in the MIPIM 2024 exhibition، in the French city of Cannes، the largest real estate exhibition in the world، and the Administrative Capital’s participation in the exhibition is the second consecutive participation after it achieved successful participation in MIPIM 2023 and was able to attract the attention of major entities and investors from around the world.

Holding meetings with investment fund officials from various countries of the world

Eng. Khaled Abbas، Chairman and Managing Director of the Administrative Capital for Urban Development Company، revealed that the company will promote many promising investment opportunities during MIPIM2024، especially with the rapid growth and development movement in the capital.

Keen to provide attractive opportunities that meet investors’ requirements

He indicated that the company will hold meetings with investment fund officials from various countries of the world during the MIPIM2024 exhibition which aims to create a base for communication and meeting between investors and funds from different parts of the world، and does not aim for direct sales، while its results will appear after a while، when the funds identify opportunities، study them، conduct field visits، and then make an investment decision.

The exhibition aims to create a base for communication

He stated that the second phase of the capital will be promoted، as it differs from the first in that it has an industrial zone on an area of 1500 acres، and it will also provide more strategic services، while the participation also coincides with the company’s intention to begin planning the second، third and fourth phases in the capital.

Shedding light on investment opportunities in the second phase

The “Dar Al Handasah International” alliance won the planning of the second، third and fourth phases of the New Administrative Capital، after an international tender was presented to specialized consulting offices، and four international consulting offices submitted to the tender، but after rounds of negotiations and practices for the technical and financial offers submitted by those offices، the tender was awarded tr the “Dar Al-Handasah International” alliance، which is the best technically and financially.

Land sale

Eng. Khaled Abbas affirmed that the Capital has more diverse investment opportunities، and there are about 5000 acres of land remaining that have not been offered in the first phase، while preparing the lands of the second and third stages does not mean selling lands in both stages immediately، noting that the Capital Company does not offer lands until they are prepared and provided with facilities.

Participation in the exhibition coincides with the company’s intention to begin planning for the 2nd، 3rd and 4rth phases

He assured that development and providing with facilities to the new phases of the capital will be much easier than the first phase، as will the promotion of opportunities، after the Capital has become a model with specific features as the company is keen to provide attractive investment opportunities that meet the requirements of investors، and it recently launched a group of distinctive lands in the MU23 area.

Approved a system of equal installments to pay the value of the lands offered، for the first time

He declared that in these lands، a system of equal installments was approved to pay the value of the offered lands، so that the investor pays the price of the land in installments without interest، just as the customer pays the value of the apartment.

He explained that this system was approved within the framework of the work to encourage real estate development companies operating in the New Administrative Capital، and to reduce the burden on the real estate developer in light of the high prices of building materials that the market is witnessing، and for the purpose of keeping the real estate market active and effective in the New Administrative Capital، out of our belief that The Administrative Capital controls a large percentage of market activity.

Grant facilitations to developers

Granting many incentives... including allowing a floor to be raised in R7 residential buildings... and incentives for companies that have obtained international green certificates

The company is keen to grant facilitations to developers on a regular basis to overcome obstacles and overcome the economic challenges that the world is witnessing، while in 2023، the Capital Company issued a decision to allow the raising of an additional floor in residential buildings in the R7 district only، for a fee determined according to specific standards، including obliging the developer to submit a report from the consulting engineer regarding the foundations’ tolerances، while adhering to the application of codes، and that the capacity of the garages be proportional to the units that will be added، as well as adherence to safety standards، according to Eng. Khaled Abbas.

He continued: “It was also approved to grant incentives to companies that have obtained international certificates in the use of green building and sustainability technologies، as these companies will be granted an increase in building proportions without charge (obtaining additional floors، for example، as in towers)، in order to compensate for the difference in costs between applying sustainable and traditional techniques.

He confirmed that the incentives will be determined according to the technologies used by each company، as this comes within the framework of the Capital Company’s keenness to push developers towards adopting more sustainable and green building technologies، which is consistent with the Capital، which is considered the largest smart and sustainable city.

Procedures

Within two months، a mobile application will be launched allowing developers to obtain licenses online

Eng. Khaled Abbas stressed the keenness of the Administrative Capital for Urban Development Company to create a system that speeds up procedures and reduces the time and effort to issue licenses.

He added that within two months، a mobile application will be launched through which the developer can apply and obtain licenses online without the need to visit the capital company’s headquarters.

A developer is not allowed to acquire a second plot of land without completing at least 30% of the construction of his first project in the capital.

He stressed that، as part of efforts to accelerate development، a developer is not allowed to acquire a new plot of land without completing 30% of the construction on the plot of land he is developing in the capital.

Transportation and services

Receiving 48 thousand employees daily... and 300 to 400 buses are provided to transport visitors.

He announced that the capital receives 48 thousand employees daily، and there are 1500 families، and they need the availability of appropriate transportation.

He added that there are 300 to 400 buses that make more than one trip and transport visitors to the capital from the electric train station to the capital، while the ministries also give their workers a transportation allowance for those who do not live near the capital، in addition the state also provided some employees with units in the Capital Gardens City، one of the urban extensions close to the Administrative Capital.