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Megaprojects, New Capital, New Mansours, New Alamein, Al Galala
Welcome, Localities, Activities, Rent, Purchase, Investment
Megaprojects, New Capital, New Mansours, New Alamein, Al Galala
Did you know that Egypt is projected to become the seventh richest economy in the World by 2030? In fact, while most countries in the World sustained huge losses and a negative Gross Domestic Product (GDP) due to the Covid19 pandemic in 2020, Egypt was one of the few countries - and the only one in the Middle East and North Africa - to create an increase of its GDP by 2.2%. By 2030, its GDP is estimated to reach 8.2 trillion US$! With 49 ongoing - and rapidly progressing - multibillion projects, and an exemplary economic and politic stability in its region, investing in Egypt must certainly be considered by any investor with a vision for the future. Between 2021 and 2025 the sector is projected to grow at an average rate of 9%!
This encouraging outlook provides a convincing reason for anyone who wants to invest - be it at a small scale by buying a studio or apartment that will certainly rapidly gain in value, which is possible to do even paying by instalments, or for a larger investor who plans to become owner or participate in a joint venture of a larger commercial activity, business, representation, agency or in the growing tourism industry.
Among the prioritized projects - beside housing, education, technology, renewable energy, transportation and industry, including even the production of electric cars, are the erection of 14 new smart and modern mega-cities in different regions combining administration and services, job creation and education with entertainment, tourism and quality housing. The largest of these projects is the New Administrative Capital, or New Cairo, the first phase of which is already finished and houses the parliament, several ministries, banks, hotels, malls, the largest mosque and cathedral of Egypt, and numberless housing complexes, ranging from mid- to high-stanard and villas, as well as office and commercial buildings and shops that are operating since summer 2021. Additional similar phases - including a 37km long park, a large amusement park, and the nearby largest medical city with ultra-modern equipment in the Middle East and North Africa region are under fast construction and scheduled for completion in 2022 / 2023. Aiming at alleviating Cairo's overpopulation of 20 million people, the New Capital with thousands of housing units will accomodate up to 7 million people and create more than 1 million jobs. In addition to a large number of housing units and compounds, it will include 2'000 schools, a large university, 663 hospitals, 40'000 hotel rooms, a technology and innovation park, 1'250 mosques and churches, 90 km2 renewable energy farms, and a monorail link to Cairo. As if that wasn't enough reason for investment, there are other similar projects under construction... The New Capital being located between Cairo and Suez, it will obviously stimulate and increase the value of its entire region - especially the western coast of the Suez Canal, where industrial zones are being created.
However, the New Administrative Capital - or New Cairo - is not the only interesting project into which you may invest. The New Mansoura City to the West of the port city Kafr El Sheikh stretching along the Mediterranean coast is projected to house around 1.5 million people. The first phase comprising a tourist village, villas and residential apartments starting from 350'000 EGP (22'261 $), totalling 25'000 residential units, including modern commercial and entertainment sectors, educational and medical facilities, parks and greenspaces, a large seaside promenade and beaches, and several marinas to house up to 1'000 yachts.
Similarly, New Alamein is a wonderful modern project - as well at the Mediterranean, West of Alexandria - projected to house 3 million people, with a large artificial lake, waterways, hotels and tourism resorts, high-rise buildings, parks, three universities, an opera house, museums and sport centers, marketplace and restaurants, entertainment parks, a knowledge village, industrial zones, and of course large beaches.
There is also the interesting New Galala City project, a town built on a plateau overlooking the Red Sea close to Al Sokhna with middle-income and luxury housing with view to the lagoon, a university, public spaces, a cable car to the sea, an olympic village, a promenade overlooking the sea, a water park, markets and restaurants. The first construction phase containing 665 buildings containing 1'900 units is partly completed, as well as a new road to Cairo. Closer to Cairo, in Ghiza, the new October Oasis modern urban development project with high, middle and low-income housing, helping to alleviate the population strain on Cairo. Located at the South-East of Cairo, another integrated community, the City Gate with residential units, hotels and villas, educational, medical and sports facilities is also under construction. Other projects are underway further South, New Sohag, New Qena and New Toshka, each one providing modern housing, educational and communal facilities and many new job openings close to densely populated centers with limited work opportunities.
East Port Said City, also named Salam Misr City, is a new huge development North-East of the entrance of the Suez Canal at Port Said, and close to the new East Port Said Economic Zone. Situated at the shores of the Mediterranean Sea, and partially built on artificial islands, New Port Said will accomodate more than half a million inhabitants, as well as investors and employees of companies active in the port and companies of the new Economic Zone. It will comprise touristic establishments, hotels, apartment compounds and luxury villas and apartments, as well as Middle-income and low-income residential areas. Communal areas, beaches, entertainment areas, watersports, boating and yachting facilities will ensure an extremely pleasant living.
Possibly the greatest project of all, is the Suez Canal Economic Zone (or SEZone) offering the largest industrial and economic zone in the World with an area of 460 km2, wit 6 industrial ports and 4 industrial zones, to investors who want to take advantage of its uniqe geographic location, at the heart of a large part of World's shipping routes, and at the crossroad between Europe, Asia and Africa, its unique modern infrastructure and the highly trained, skilled and hard-working Egyptian workscraft. At Port Said, a 2.4 km long port pier with state-of-the-art equipment, a shipyard, logistics centers and warehouses as well as factories and workshops give you the opportunity of investing or setting up your own small, medium or large enterprise, distribution center, storage facility, specialized factory or workshop, recycling unit, or representation. The Egyptian authorities offer a centralized 'one stop shop' to inform and assist you as well as to simplify and accelerate all the procedures to set up your business and obtain all the licences and permits. You may also charge an Egyptian lawyer to proceed to the whole registration for you.
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