More than 20 years ago, Egypt started building new cities like El-Shorouk city and Sheikh Zayed city among other cities.
Recently, the New Administrative Capital joined the new cities’ list. Its features make it an integrated city and not just a smart city where everything is controlled with autonomous systems.
The city executives have signed a number of contracts to develop autonomous systems and make its administration and control smarter. They have also signed a contract with an e-payment company to make all payments become electronic and processed digitally, so there is no need for cash payments.
Latest Developments in the New Administrative Capital
The city is racing against time to finish the constructions and to sign more contracts of 4,000 feddan-projects with about 17,000 feddans sold for real estate development companies.
Most importantly, 70 percent of the infrastructure of the city was finished while the presidential and governmental districts are set to be finished in June 2020 which is when the government headquarters will move there.
Moreover, Many projects are also set to be finished in the next two or three years.
Top Projects in the New Administrative capital
- Castle Landmark
- Anakage
- Al Maqasid City Edge
Castle Landmark
The Compound is named after the real estate developer of the compound in collaboration with Misr El Maqasa that introduced many projects to the Egyptian market.
Castle Landmark is one of the largest real estate projects in the new city and it was built on an area of 43 feddans. It includes 5 phases with a total budget of EGP 5 billion. Moreover, 70 percent of the project units depend on solar power.
The project lies in the new R7 residential district that offers enjoyable and comforting residence with 81 percent of the area is green areas. The first stage of the project lies on an area of 9 feddans. According to the schedule, the finishing date is in 2020. The stage will deliver 478 residential units.
The second stage is targeting 17 feddans and a total number of 239 units.
Anakage: Live Today in Tomorrow’s Compound
The project is inspired by the Nubian homes that have unique colors and designs.
Even the name of the project means houses in the Nubian language and it is one of the top projects in the new administrative capital. Meanwhile, it is one of Masr real estate development company’s project that has a great track record of successful projects in Cairo and the north coast.
The project lies in the Eighth Residential (R8) residential district directly opposite to the ministries district. It lies near the presidential palace, presidential district, Airport and the green river that is only 8 kilometers from the compound in addition to the regional ring road.
In addition, the project extends on an area of 20 feddans with only 20 percent of it goes to the residential buildings and the rest is for green areas and services.
The project offers everything needed for a luxurious and entertaining life including a club, golf playground, a mall and a 2 kilometers track. The compound is offering 800 apartments for sale with areas ranging between 94 and 319 square meters. Prices start at EGP 9,000 per square meter for the apartments.
Payment plans support up to 10 year installments.
Al Maqasid City Edge
Al Maqasid City Edge is a project that comes with a new concept of developing. It offers a great variety and different models of apartments and villas.
The project is one of City Edge real estate development company projects which delivered famous compounds like ETABA and The Gate.
The project lies in the third district of the new administrative capital which offers luxury, comfort and a quiet environment.
It includes 2 stages with a total of 211 feddans divided between townhouses, twin houses and villas.
The areas of units vary between 370 and 580 square meters with an average price of EGP 3,500,000 and EGP 12,000,000 as a maximum price. The company offers 7-year installments and 5 percent down payment.
It is worth mentioning that the prices mentioned in the article are subject to change. We constantly update the prices on Aqarmap to keep customers updated to the latest market changes. We also measure other indicators through Aqarmap Index.