Grasp opportunity and live in New Aswan City

In this article, you will find detailed pieces of information about the city and its distinctive residential projects

By Aqarmap Last updated Apr 14, 2020

Fast facts about New Aswan City

In this article, recognize New Aswan City of upper Egypt; the largest urban expansion of Aswan City. It’s also considered one of only two, of the third generation cities (The most important first generation cities are The New Administrative City, El Shorouk, and Sheikh Zayed) which are directly located on the river.

New Aswan City is located on the west bank of the Nile river, and it’s 12 km away from current Aswan City. The city has been founded, with an area of 3,898.04 feddans, in accordance with the presidential decree No. 96 for year 1999. The area of the city was subsequently increased, with an area of 18,490.92 feddans, in accordance with the cabinet decision No. 807 for year 2015; hence, the total area has been increased to be more than 22,000 feddans.

City’s general outline

The total area of the city is 74,000 feddans; 596 feddans of them are allocated for services, entertainment places, and green areas. The area of the first stage only is about 22,000 feddans, and the city is divided into:

Residential areas
Service areas
Entertaining places
Sport areas
Touristic areas

Housing sector in New Aswan City

The city has been planned to accommodate 210,000 inhabitants (for social housing only). City residents are expected to reach 850,000 inhabitants in 2032. 280 developed housing united has been executed so far in the housing sector.

For social housing, 4,480 units have been finished, 1,298 units are being finished, and 822 units are being constructed; with a total of 6,600 apartments.

In regard to lands, land areas vary from (113,252,400), while land’s meter price average is EGP 1,850, and EGP 3,060 for apartments’ square meters. Around 1,876 lands have been already delivered for different (social- economic- middle- upper middle- villas) projects, and 1,429 lands have been delivered for Ebny Betak project.

For investment housing, it falls within the tourist district in river strip area. It includes 66 fully-finished villas, overlooking the Nile, in addition to a 6-kilometer promenade.It also includes the project of the river strip, and is scheduled to establish 2 tourist hotels and shopping malls there. 3 units have been implemented and are being finished, and 63 villas are currently being implemented.

City’s services sector

The city includes many of the service facilities that residents need in all aspects of their lives. It contains 26 buildings, 10 of which were delivered, namely:

Post office
nursery and an elementary school
Police station, fire unit, and an ambulance unit
Medical unit
Faculty for Girls- Al Azhar University
Football field

Moreover, the following 14 buildings have been executed:

Investments volume in the city

The volume in the city is estimated to reach about EGP 3,000,000,000 distributed as follows:

EGP 3,000,000,000 for facilities
EGP 1,000,000,000 for housing
EGP 1,000,000 for services
EGP 8,000,000 for agriculture

Free investment zone in the city

The prime minister has decided to establish a free investment zone on an area of 187 feddans to include 160 projects. Its investment reaches $2,300,000,000, and it will offer 15,000 direct job opportunities.

This zone is expected to achieve $1,100,000,000 as an added value of the domestic output. Moreover, it shall achieve an export volume of $675.000.000 annually.

Here are some of the industries included in the zone:

Fish production and canning
Food processing
Agricultural crops’ drying and grading
Electronic panel, cells, and photovoltaic inverters manufacturing
Golden jewelries manufacturing
Souvenir production
Furnishings, clothes, and handicrafts manufacturing
Carpets and textile products manufacturing

It’s clearly notable that establishment and building processes are running in a high speed; therefore, Aqarmap is keen on providing you with the newest items of information about the city. Thus, we recommend you to follow up building progress in the city from moment to moment. You can also search for apartments for sale in New Aswan City.

*It’s worth mentioning that prices named above are changeable. We, in Aqarmap, are continually keen on updating the prices list for keeping the client informed with the latest updates in real estate market, in addition to measuring demand indicators though Aqarmap Index.

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