The Administrative Capital Company for Urban Development company (ACUD), which is the owner and developer of New Administrative Capital in Egypt, is planning to launch the second phase of the mega project for development under the public-private-partnership (PPP) model.
ACUD Chairman Ahmed Zaki Abdeen said that out of the 20,000 acres allocated for the first phase, only 5,000 acres remain to be developed.
“In light of the increasing demand by developers and leading real estate companies in Egypt to acquire land in this mega project, the construction works of the second phase will start immediately after the completion of first phase.”
He added that the second phase of NAC would be spread over a land area of 47,000 acres.
“The construction works for the second phase is expected to reach estimated 40 billion pounds ($2 billion). We are planning to appoint five new international companies to manage, operate and maintain the electricity, gas, water, sewage grids in the second phase.”
He said Phase 2 would be developed in partnership with the private sector using the Build-Operate-Transfer (BOT) model.
ACUD spokesperson Khaled Al-Husseiny told Zawya Projects that the developer has appointed Dar Al-Handasah, AAW Consulting Engineers and Engineering Consulting Group (ECG) to design the second phase.
“The consultants have been mandated to incorporate the highest international standards for smart cities as the large area of the second phase equals four new cities,” he said.
(1 US Dollar = 18.74 Egyptian Pounds)
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)