Egypt studying the possibility of developing six new cities
Posted on April 14, 2021 |
- Egypt in past few years have increased its urban area to 14% which includes the establishment of 37 new cities using the latest technology in the world.
- EGP 50bn (USD 3.18 billion) has been allocated in 2019 to support the country’s real estate sector, with an interest of up to 8%.
- Real Sector represents 16% of country’s GDP
- Country has already built New Alamein City built on an area of 170,000 feddans
- New Aswan City is one of the most important new cities in the 11 governorates of Upper Egypt and spans over 22,000 feddans, serving 185,000 people
