Construction work on the much hyped new capital in Egypt is now set to commence after the government awarded companies the tender to begin the work.
Egypt’s Housing Minister Mostafa Madbouly said construction of the first phase is set to start in April, with the cabinet having approved the first phase of the new capital at a cost of EGP 4 billion.
Madbouly explained that a state-owned company would be the main developer of the project, taking over the general planning and introduction of facilities as well as the execution of the residential area.
The mega project’s first phase will include 12 ministries and a number of other governmental institutions, a residential area that would have over 25,000 housing units, and the world’s biggest park.
The army’s engineering authority has started construction on the capital site and they expect that the implementation of the bridges and mega road project will be done in few months to connect the new Cairo with the new City.
The new capital construction is one of the biggest projects being carried out by President Abdel-Fattah El-Sisi as he aims to boost the country’s economy.
.
In January, Egypt and China signed financial deals including loans, grants and memorandums of understanding worth around $15 billion of which a part is expected to be invested in the infrastructure of the planned new administrative capital.
