8 factors make New Capital ‘high demand area’ in real estate market

The New Administrative Capital is one of the most prominent national projects announced at the conference “Supporting and Developing the Egyptian Economy” in 2015.  Since then, this huge national investment project is well underway.

The area space of the city is 170,000 feddans, and can accommodate about 7 million people. The project is being established in accordance with international standards to keep pace with the technological advances of recent times. Prices* of square meter in New Capital range from EGP 11,600 for apartments and EGP 19,150 for villas.

Here are the most prominent 8 features that make New Capital one of the high demand areas in Egyptian real estate market:-

Strategic location

The New Capital is located in a very strategic location; 45 kilometers east of Cairo and 80 kilometers away from Suez city in the area between the Cairo-Suez and Cairo-Ain Sokhna roads.

Services and facilities

Companies and entities responsible for undertaking the project took into consideration to provide all services and facilities all over the city, which made it very attractive to live in. Here are some of these services:

• Green spaces, gardens, recreational parks.
• Several restaurants in the commercial area.
• Houses of worship.
• Public recreational areas.
• Clubs and sports grounds.
• Bike path.
• A 4,800 MW power plant powered by natural gas and diesel to meet all the city’s electricity needs.

Availability of investment and trade opportunities

New Capital is considered a fertile land for establishing commercial projects, as it is an investment project aiming principally to stimulate and promote investment in Egypt and boost its economy, in addition to attract foreign investment. Therefore, the government has allocated a whole business district, full of various commercial buildings and skyscrapers to suit businessmen. Also, it has a headquarters for the Central Bank and branches of all local and international banks operating in Egypt.

Multiple housing projects

Considering the importance of the New Capital at the investment level, companies executing the project started to establish some residential compounds. Such compounds are projected to escalate with the increasing demand for the city. Among the most important compounds are: Midtown Compound, a project of Better Home company for Real Estate Investment; Il Bosco Compound, a project carried out by Egypt-Italy real estate Group; Capital Way Compound, a project carried out by Water Way Company. These projects have all the necessary services, including: security – stores – recreational services – clubs.

Distinctive portioning

One of the most attractive features distinguishing the New Capital in the real estate market is the special partitioning of the city. Roads, buildings and residential units have been planned perfectly, as 40% of the total space of the city were allocated for housing, while 30% were allocated to serve the financial and business sector, in addition to allocating a whole business district for governmental buildings, and large plots for green spaces and special roads for bicycles and pedestrians.

Interest in science and arts

Given the importance of science and fine arts in contributing to the betterment of the nations, the country has allocated two major districts to serve this objective.

• Culture and Arts city: The project aims to develop the talents of young people, as it adopts several arts, including: drawing – music – sculpture – acting – literature and poetry. Also, it contains a music library – a group of theaters – a cinema hall – a central library – a sound recording studio – museums.
• Knowledge City: a city specialized in science and knowledge, which includes: centers for research, science and entrepreneurship; a center for the development of computer applications; institutes of technological training. The city aims to raise the efficiency of youth in the fields of technology. It also depends on advanced technology and renewable energy sources.

Distinctive landmarks

The city has many distinctive landmarks that will attract visitors and tourists, expecting to be an attractive destination for both internal and external tourism. The most famous landmarks of these are: Electric Train, Opera, Al Massa Hotel, Green River and the Central Park.

Roads Network and Transportation

The companies implementing the city considered building a strong road network linking between districts and linking the whole city to other governorates. The length of this main road network is about 650 km. Moreover, it has special roads for pedestrians that do not intersect with motorways.

* Please note that all prices mentioned in this article are for the first quarter of 2019 and subject to change, and we in Aqarmap try to update them regularly in our prices guide of districts.  Choose between different spaces and styles in the best compounds in New Administrative Capital, you would find many payment plans that suit all.

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