About the New Administrative Capital project
The New Administrative Capital is a residential investment and tourism city, the idea of which was launched four years ago. The project is targeting to solve the problem of dense traffic in Cairo. Therefore, the government headed to the desert to get away from Cairo’s Downtown. This idea already had its positive effects, as it attracted nowadays many national and foreign investments.
The reason behind building the New Administrative Capital
After the increase in population and the growing congesting in Cairo, the Egyptian political leadership thought about constructing a huge reconstruction project to host government departments, ministries and all government headquarters, in addition to foreign embassies and consulates in order to ease the increasing pressure on Cairo’s facilities and its roads. Moreover, the project is aiming to create new investments in the New Capital’s projects, and make an attraction hub for investments, commercial projects and foreign funds. The New Capital is set to be an important contributor to the Egyptian economy.
New Capital is strategically located 35 kilometers east of Cairo between Suez and Cairo roads, less than an hour from Cairo’s downtown and half an hour from New Cairo.
In order to avoid repeating old mistakes, the city was partitioned in a sophisticated and modern style, utilizing the climate and city’s architecture to make it a distinctive place and one of the most famous cities of the world.
The city is mainly partitioned into four major districts:
Government District
The district spans over an area more than 1,000 feddans. It is allocated to government and presidential bodies, as well as state service and security establishments.
Residential District
The district covers an area of more than 10,000 feddans. It is allocated to residential buildings, as it includes thousands of residential properties varying between apartments, villas, palaces and other housing units. These projects were entrusted to major Egyptian companies, such as: Arab contractors, Orascom and others.
Business District
It covers an area of about 1,000 feddans. It is allocated to companies, banks, financial markets and economic projects. This district is expected to be a global economic hub attracting many foreign investments, especially with the increasing demands from major companies to reserve units there.
Embassies and Consulates District
The idea of the district arose after Cairo’s downtown became crowded with many embassies and consulates, which require special insurance that usually leads to the increase of congestion and crowding in Cairo due to the security arrangements. Therefore, the government decided to move these institutions to a well-organized district. The district will provide security arrangements without causing congestion. This district covers an area of 1,500 feddans.
Housing in the New Garden City Neighborhood
Once the constructions in the New Administrative Capital were launched, the demand over units was unexpectedly increased, leading the price per square meter in some areas to reach more than EGP 25,000. According to economists and real estate investors, New Capital has a great investment future.
Even the surrounding cities, such as: Badr City and New Cairo, their economic value and price per square meter have been increased, especially with the start of the construction of investment projects, as large companies will need housing units for its manpower. As for the most important residential district in the New Capital, the district R5 includes one of the most important residential compounds in the Capital, the New Garden City, which will include several housing projects.
About the New Garden City
The neighborhood is developed by City Edge Real Estate Company over an area of 1,000 feddans, most of which (up to 80%) was allocated to green spaces and gardens, while the remaining area was allocated for residential buildings. The distinctive architectural character of the neighborhood buildings resembles downtown buildings with its distinctive European character, which is characterized by high ceilings, and marble facades. Most important projects of the neighborhood is Baroque residential compound.
Features of the New Garden City
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The buildings have a distinctive architectural character similar to French designs, taking into account the integration with the Egyptian environment as well as utilizing its distinctive elements and climate.
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The buildings are equipped with modern technology. It is a completely new technology in Egypt.
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The buildings are designed to withstand earthquakes and natural disasters, as well as lightning.
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All units are fully finished (Ultra Lux)
Units Prices and units
The neighborhood includes various residential units varies between apartments and villas, with areas ranging from 100 m² to 60 m² for apartments. As per villas and twin houses, their areas range from 130 m² to 300 m².
Prices per square meter in the New Garden City
The price per square meter starts from EGP 20,000 to EGP 22,000.
The price can be paid in installments up to 5 or 7 years, after the buyer pays a down payment of about 5% of the unit’s price, then 10% after 3 months of contracting, and 5% upon receipt of the unit.
The neighborhood is expected to be completely constructed in 2022.
* It is worth mentioning that real estate prices are always changing, and we are keen to update the price list of neighborhoods to keep the consumer informed about the changes in the real estate market. We also measure the demand indicators through Aqarmap index.
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