Egypt has set aside LE25 billion for New Al-Alamein projects in the upcoming fiscal year.

During the fiscal year 2021/2022, LE25 billion was allocated from the New Urban Community Authority for projects in New al-Alamein, starting in July.

Khaled Abbas, Deputy Minister of Housing for National Projects, told repoerters that the costs of the new towers implemented by China’s CSCEC company total LE30 billion. He said that in the next few months, the Ministry will lay the foundation for the new projects. The Ministry also will speed up the first phases of the project to develop the city of New Alamein. The statements of Abbas were made on a tour organised by the ministry in New Alamein, where the foundations for five new towers in the downtown area were laid.

The town of New Alamein covers an area of 49,000 hectares and is one of the fourth generation towns that the Housing Ministry has established for the past few years. The volume of expenditure on New Alamein City has so far exceeded LE65 billion, according to statements by Housing Minister Assem Al-Gazzar. The New Alamein city development authority has stated that contracts are worth LE220 billion up to 2025 in respect of the first phase of town development.

Mohamed Samir, Director General of Development and Information at the New al-Alamein City Authority, emphasised that this massive development project alters the Mediterranean coast’s development map and creates a new integrated urban community. He also stated that LE1.2 billion is disbursed to contracting companies each month in order to complete projects on time and within budget. Samir revealed that the first phase of the beach towers will be fully completed by the middle of next year, and will include 15 residential and hotel towers, as companies are currently working on interior finishes and facades after completing all concrete work. He went on to say that the second phase of the beach towers, which consists of eight towers, has seen implementation rates reach the seventh floor. He assured that they would be completed within two years based on the current schedule. The implementation rate for the entertainment area, which is located in the middle of the beach towers and directly overlooks the sea, has reached 95%, he added, and it is expected that a portion of it will be operational this summer and fully operational by next summer. It consists of a collection of shops, restaurants, and shopping centres.

A large portion of the heritage city, which is being built on 260 acres, will be completed by October. It has 70 facilities in total, including the main lake, the central garden, the mosque, the church, the Roman theatre, the opera, and commercial and hotel buildings. It is scheduled to be completed in the first quarter of 2022 and is designed in the Roman architectural style.

Concerning housing projects in New al-Alamein, Samir stated that the ministry completed the delivery of 38 residential buildings under social housing last year. It is currently preparing to launch new units in the Sakan Misr project, which includes over 4,000 units and will be completed in several months, according to Samir. And, according to him, up to 95 percent of construction work in the Downtown area, which includes 40 buildings with 1,320 units, has been completed and is being marketed by City Edge.

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