What are the advantages and disadvantages of the New Administrative Capital?

Advantages and disadvantages of The New Administrative Capital

It was advertised about launching The New Administrative Capital project during the events of " Supporting and developing the Egyptian economy " Conference since Dr. Mostafa Madboly the Housing Minister advertised about constructing a new administrative capital for Egypt that's located in the east of the Regional Ring Road and especially in the space between El Suez Road and El Ain El Sokhna Road in a very special strategic location.

And the budget of the New Capital is estimated with 45 billion dollars for executing the capital on 3 phases during 7 years maximum, and it's planned that the new capital will include a presidential palace, ministries, and governmental facilities in addition to embassies neighborhood, and it's planned to construct more than 1 million residential units that can contain not less than 7 million people through the first phase of the Administrative Capital that's considered from the modern projects and for mor Details Click Egypt Real Estate.

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The Features of the New Administrative Capital

The New Capital project is considered from the largest projects that are being executed in the Middle East, and it was provided all the entertainment means inside it in addition to the main services, and from the features of the Administrative Capital:

• It was constructed on 170 acres that equals the space of Singapore.

• Urban Planning Authority put a plan for designing and constructing all the utilities and the main roads and the services and entertainment means before the residential units to ensure providing all that you look for.
• The first phase of the New Capital project is being constructed on 40,000 acres, and it should hold nearly 7 million citizens.
• It's estimated to achieve a partial leap in the Egyptian youths' future, as it will create many job opportunities that will help in the elimination of unemployment.

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• The internal streets of the capital are very wide, as the street's width reaches 120 meters.
• The streets' development inside it will be held by Holding Co. For Construction & Development ( HCCD ), Orascom Company, The Arab Contractors, and Concord.
• The meter's price for the units in the Administrative Capital starts from 5,000 pounds, and the units can be bought by installment over many years and without any downpayment, and many spaces were provided to suit all the families.
• It's planned that the New Capital will include the headquarters of government bodies and ministries, as 18 ministries will be transferred inside it in the next year, so you will be able to do all your services in one place in the center of the Capital.
• It's considered one of the largest capital around the world as it's planned to include 40 million citizens in 2050.
• The residential units' spaces in the residential neighborhood start from 100 up to 180 square meters.

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Additional Features in The New Administrative Capital

• The cost of the residential and governmental neighborhoods' lands reached 10 billion pounds, and this explains the size of the project and its designs and providing all the entertainment means inside it.

• Huge spaces of landscapes that were designed according to the developed system, in addition to gardens and green spaces that the person's share in it reaches 15%.

• A plan was put to link the New Capital with the nearby cities, in addition to linking it with Cairo by a large transportation network, and it includes a huge international airport on 33 square kilometers.

• The plan of the Administrative Capital was inspired by the international capital and it was designed on the European style, and the classy residential districts in West El-Balad like: Qasr El Nile, Misr Al-Jadida, Garden City, so it combines between the heritage of history and innovative modern designs.

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• It includes the largest central park around the world and it equals 2 and a half times the space of New York international garden.

• A plan was put for specifying a large technological area that includes many technological software factories and that helps in reinforcing and supporting the Egyptian economy.

• The Administrative Capital will resemble the most beautiful international capitals from the luxury and beauty as Dubai and Singapore.

• 100,000 units in the residential neighborhood were specified for the middle-income people, as it was put up for sale with reasonable prices, and it will be distributed on 8 districts in the north and south of the Administrative Capital.

• The rest of the residential lands in the New Capital were sold for the private sector's developers, and the Egyptian Government looks forward that the costs of the projects shall be covered by selling those plots.

• The first phase of the residential neighborhood was completed, in addition to selling 85% of the lands in the New Capital to 30 developers of different real estate companies.

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More services Provided by The New Capital

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• 4000 classy residential units will be executed in the residential neighborhood that vary between villas and townhouses.

• The large space of the Administrative Capital will be divided into 8 huge neighborhoods which are the Embassies Neighborhood, The Government District, The Banks District, The courts and prosecutors District, and the City Center.

• There are many services in the capital as it includes 1250 mosques, churches, and a conference hall that includes 5000 seats, 2000 schools and universities, and more than 600 medical facilities, and a large central park.

• There is a capital park the Central Park that's considered from the largest central parks in the world.

• The New Capital project will be linked by a railway line with the railways' network, in addition to the Monorail Train.

• The administrative Capital will include the tallest tower in Africa that will be surrounded by 20 skyscrapers with 325 meters height.

• 3500 employees at the Ministry of Finance will be transferred to the New Capital in March 2020 after receiving their units in the Government District in January 2020, and The Ministry of Awqaf and Islamic Affairs is planning to transfer 40% of its employees to the New Capital.

• The entertainment city's space is 3 and a half times larger than Universal Studios space, and it's from the largest entertainment cities in the world.

• The meter's price of the lands that will be put up for sale to the real estate developers and the investment companies starts from 3500 up to 5000 pounds.

• There are solar energy farms that were constructed on 90 square kilometers, in addition to 70% of the buildings' roofs are covered with solar panels for providing more clean energy.

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The features of living in The Administrative Capital

• It's planned that the New Capital will include many sports playgrounds, a large sports stadium, a museum for science and technology, a museum for arts.

• It also will include an Opera House and many cinemas and theatres.

• All the residential projects in the New Capital even they are investment or governmental project, they were designed and executed by environment-friendly materials.

• All the residential neighborhoods' designs combine between the latest architecture style and the classic and the modern art to suit all the tastes.

• An electric power station with productivity that reaches 4800 Megawatt.

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• The ministry of communications has got a piece of land with space that equals 260 acres for constructing the Smart Village, and this village is from the developed cities that will transfer Egypt to the future with all the developed technologies.

• The New Capital will include the first integrated international Medical City.

• It has an Expo city that will be the largest international conference hall to serve the expo sector and constructing many international conferences in it.

• It has the largest Cultural compound in the Middle East, and it includes the largest mosque and church in the Middle East.

• It has an educational center that includes many unique ancient archaeological manuscripts and many heritage books.

• The urban planning for the Administrative Capital is inspired from the center of Cairo districts as Misr Al-Jadida district and Qasr El-Nile that have special buildings with wonderful architectural designs that made the New Capital resembles the international capitals around the world.

• The Administrative Capital includes an international Airport and an electric train to link the New Capital with the 10th of Ramadan and El-Salam cities.

• It includes many residential buildings that reached 1.1 million residential units and 40,000 hotel rooms.

• The large space of the Administrative Capital was specified for the green spaces and gardens, considering that the buildings' percentage is going to be less than the green spaces to provide more privacy and welfare for the residents.

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The disadvantage of the New Administrative Capital

There are many problems and disadvantages that faced many people about the New Administrative Capital project and from these problems:

• The problem of the Housing Ministery's residential units

The Housing Ministery lately launched 2000 residential units from 35000 units as the first phase for units' booking in the New Capital, but conditions and rules for booking those units were surprising to many people as:

1. The specializing is personal. No transfer or disposal of the unit may be made in any type of disposition, whether carrier or restricted to ownership, except with the written consent of the authority, subject to payment of the full price of the unit and the prescribed expenses in accordance with the Real Estate Regulations of the authority that equals 7% of the total price of the unit that it costs 1,5 million pounds after subtracting the interest.
2. The authority may cancel the allocation to the beneficiary if it breaches the conditions of the reservation or when the applicant for the reservation has not completed the payment of 10% in addition to 1% administrative expenses and 0.5% to the Board of Trustees of the total price of the unit within the deadline granted for payment, or the failure of the client to pay two consecutive installments according to the paying system.
3. Cancellation of the assignment in case of assignment or disposal of the unit without prior approval of the Authority or the competent city authority, change of the purpose for which the unit was assigned, or non-contracting and receiving the unit on time.
4. When the client acts from behind the ministry in the unit and sells them on contracts with the buyer, the Authority shall have the right to cancel the specialization, as persons have issued a waiver of the real estate waiver.
5. In addition to the 5% maintenance amount, which many said was exaggerated due to the lack of "security, fence, gates or club", such as large companies that offer housing units whose price is close to what the Ministry of Housing announced.

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• The far distance between the New Administrative Capital and Cairo

Due to the distance between the new capital and Cairo, the burden on workers increases due to the long-distance and time, especially if the workplace is in the center of Cairo or any of the industrial zones.

• Transfer of most government agencies to the administrative capital

This transfer will harm citizens wishing to finish their government papers.

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• Emaar the Emirates Company's withdrawal from investing and constructing projects in the new administrative capital will put a strain and burden on the local investors and balancing of the project implementation.
• The rising of the meter's price in the Administrative Capital

The meter's price starts from 11,000 pounds, and it's considered the least meter's price for the small residential units with 100 square meters, and this doesn't suit the limited-income people.

• Increasing the costs of introducing utilities in the New Capital

The costs of introducing utilities and constructing infrastructure are remarkably high and a burden on the state.

In this article, we learned in detail about the advantages and disadvantages of the New Administrative Capital project, which is expected to achieve a qualitative leap in the future of housing in Egypt.

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Top Developers in the New Administrative Capital

• City Edge Real Estate Development Company

City Edge Real Estate Development Company is considered one of the leading companies in the Egyptian real estate market that has proven its worth in real estate development through a number of urban projects ranging from residential to investment and tourism. It has met the needs of its customers with the highest quality and best price. It has also entered the New Administrative Capital with several projects represented in Baroque Compound New Administrative Capital, Al Maqsad Compound, Garden City Compound New Administrative Capital,

• Misr Italia Real Estate Development Company

One of the most important real estate companies that ensure the fulfillment of customers' desires on the ground with the best services is Misr Italia, which has gained customer confidence through a number of distinguished works that it has launched, especially in the New Administrative Capital, including Vinci Compound New Administrative Capital, Il Bosco Compound New Administrative Capital, Vinci Street Mall New Capital.

• Master Group Real Estate Development Company

Master Group Real Estate Development Company was established in 2017, and despite this short period, it managed to impress everyone and present a new vision and thought through its residential and investment projects that achieved the highest sales rate. It continued its success by launching more than one project in the New Administrative Capital, City Oval Compound, The City Valley Compound New Administrative Capital, Aventura Mall New Capital.

• Castle Real Estate Development Company

One of the successful and leading companies in the Egyptian real estate market that was established in Saudi Arabia in 1982 as a result of a partnership between Castle companies and Misr for Central Clearing, which during its journey presented many distinguished projects with an investment volume of up to 8 billion pounds, and among its distinguished works are Castle Landmark Compound New Administrative Capital, Castle Gate Mall New Administrative Capital, East Side Mall New Administrative Capital.

• AKAM Real Estate Company

AKAM Real Estate Development Company is one of the unique companies in the real estate market. It is an Egyptian-Saudi company consisting of 4 companies: Banayat Company, Residence Company, Al Muhaid Company, and a Saudi company in cooperation with Faisal Islamic Bank. It owns 25 branches worldwide and has managed to present many projects, especially in the capital, including Scene 7 Compound New Administrative Capital, Scenario Compound New Administrative Capital, Enova Mall New Administrative Capital.

• The Land Development and Real Estate Development Company

The Land Real Estate Development Company is considered one of the real estate companies that was established in 2006 by businessman Ahmed El Tayebi, who led it towards the top and success by presenting distinguished investment and residential projects, in addition to expanding in the city of the future, the New Administrative Capital, with a number of luxurious works, Armonia Compound New Administrative Capital.

• La Verde Real Estate Development Company

La Verde Egypt Real Estate is one of the real estate companies that has managed to achieve success and excellence through its luxurious urban projects since its establishment in 2017. One of the main priorities it seeks to achieve is to present a new thought in the world of real estate through its distinguished projects by investing in vital areas, so it has launched several projects in the New Capital, including La Porta Mall New Administrative Capital, La Verde Casette Compound New Administrative Capital, La Verde Compound New Administrative Capital.

Latest Projects in the New Administrative Capital

Al Maqsad Compound New Administrative Capital About Al Maqsad Compound New Administrative Capital: Al Maqsad Compound New Administrative Capital is one of the residential projects that painted an artistic picture through its stunning international designs. Location of Al Maqsad New Administrative Capital: The compound is located in the R3 area in plot D4- D5, near the Ring Road and Mohammed bin Zayed Axis, minutes away from New Cairo. Area of Al Maqsad Capital: Al Maqsad compound extends over a large area of 211 feddans. Developer Company: City Edge Real Estate Development Company is the developer of Al Maqsad Compound in the New Administrative Capital. Unit Types: Standalone villas, townhouses on different areas. Unit Areas: The unit areas in the compound start from 377 to 509 square meters. Unit Prices: The price of residential apartments starts from 6,200,000 Egyptian pounds, and townhouses on an area starting from 18,000,000 Egyptian pounds, and twin houses starting from 20,000,000 Egyptian pounds, and villas starting from 22,000,000 Egyptian pounds. Payment System: 5% of the unit value is paid and the rest over 7 years. Services: Pharmacies, commercial area, maintenance services, clubhouse, health club and spa center, sports club. Scene 7 Compound New Administrative Capital About Scene 7 Compound New Administrative Capital: Scene 7 Compound New Administrative Capital is one of the luxurious residential projects in the capital that ensures luxury in its most beautiful form. Location of Scene 7 New Administrative Capital: The compound is located in the seventh district R7 in plot G2 near the Green River at a distance of 35 kilometers, and it is easily accessible via Mohammed bin Zayed Axis, the Opera House and the Cathedral, and the compound can be reached within minutes via the Ain Sokhna Road and the Middle Ring Road, 30 minutes away from the Administrative Capital Airport. Area of Scene 7 New Administrative Capital: The compound area is about 40 feddans. Developer Company: AKAM Real Estate Development Company is the owner and developer of Scene 7 Compound New Administrative Capital. Unit Types: Luxurious residential apartments. Unit Areas: The area of residential apartments that include 3 rooms and 2 bathrooms starts from 156 square meters, the area of apartments that consist of 3 rooms and 3 bathrooms starts from 190 square meters, and there are luxurious apartments on an area starting from 213 square meters consisting of 4 rooms. Price per Meter: The price per meter in residential units starts from 36,750 Egyptian pounds, with a total price of up to 5,292,000 Egyptian pounds. Payment System: A unit can be obtained without a down payment with installments over 5 years, and 6% of the unit value can be paid and the rest over 6 years, while 7% can be paid as a reservation deposit and the rest over 7 years, while 10% can be paid as a reservation deposit and the rest over 8 years, and there is a payment system of 15% down payment, and after two years 10% and 5% upon delivery with the rest to be paid over 10 years. Services: Private garage, clubhouse, commercial mall, swimming pools, football academy, pharmacies, medical centers. Il Bosco Compound New Administrative Capital About Il Bosco Compound New Administrative Capital: One of the most important high-end residential communities that have been launched recently is Il Bosco Compound New Administrative Capital for those looking for luxury and comfort. Location of Il Bosco New Administrative Capital: The compound is located directly on the Southern Mohammed bin Zayed main street, near Al Massa Hotel and the medical zone, 5 minutes from Al-Fattah Al-Aleem Mosque, and a distance of 5 minutes from the Green River, and about 15 minutes from the International Capital Airport. Area of Il Bosco New Administrative Capital: The compound area is about 200 feddans, equivalent to 840,000 square meters. Developer Company: The developer of Il Bosco Compound New Administrative Capital is Misr Italia Real Estate Development Company. Unit Types: Apartments, standalone villas, townhouses and twin houses. Unit Areas: The area of apartments starts from 130 to 200 square meters, and villas on an area from 297 to 530 square meters. Unit Prices: The price of units in the compound starts from 6,500,000 Egyptian pounds. Payment System: 5% of the unit value is paid and the rest over 8 years. Services: Sports club, playgrounds, commercial area, international schools, universities, swimming pools, cultural center. Midtown Solo Compound New Administrative Capital About Midtown Solo New Administrative Capital: Midtown Solo Compound New Administrative Capital is one of the luxurious residential communities that ensure complete luxury for customers looking for luxury. Location of Midtown Solo New Administrative Capital: The compound is located on Bin Zayed Axis in the seventh district R7, near Expo City, 10 minutes from the diplomatic area, near Al Massa Hotel, next to El Mondo Compound, and Town Gate Compound New Administrative Capital. Area of Midtown Solo New Administrative Capital: The area of Midtown Solo Capital reaches 66 feddans. Developer Company: Better Home Real Estate Development Company is the developer and owner of Midtown Solo Compound New Administrative Capital. Unit Types: 289 villas on different areas. Unit Areas: The area of villas in the compound starts from 350 to 600 square meters. Unit Prices: The price of units in the compound starts from 25,500,000 Egyptian pounds. Payment System: 10% of the unit value is paid and the rest over 6 years with a down payment of 300,000 Egyptian pounds. Services: Swimming pools, clubhouse, commercial mall, medical center, entertainment area, medical center, pharmacies. Midtown Villa Compound New Administrative Capital About Midtown Villa New Administrative Capital: Midtown Villa New Administrative Capital is considered one of the real estate launches that have been launched recently for a modern and sophisticated life. Location of Midtown Villa New Administrative Capital: The compound is located in the R7 area on the Suez Desert Road, next to the British University opposite the Exhibition Land, minutes away from Al Massa Hotel, and the Central Park. Area of Midtown Villa New Administrative Capital: The compound was launched on an area of 53 feddans. Developer Company: Better Home Real Estate Development is the developer and owner of Midtown Villa Compound New Administrative Capital. Unit Types: Standalone villas, townhouses, and twin houses on different areas. Unit Areas: The area of standalone villas starts from 500 square meters, and townhouses on an area starting from 300 square meters, and twin houses on an area starting from 350 square meters. Unit Prices: The price of units in the compound starts from 16,000,000 Egyptian pounds. Payment System: 50% of the unit value is paid and the rest over 4 years. Services: Swimming pools, clubhouse, entertainment area, medical services, pharmacies, international schools and universities, garages. Pukka Compound New Administrative Capital About Pukka Compound New Administrative Capital: Master Builder Real Estate Development Company has launched its best residential projects, Pukka Compound New Administrative Capital with its international design. Location of Pukka New Administrative Capital: The compound is located in the seventh district R7 in the first offering in plot number 9B on the Southern Mohammed bin Zayed Axis, 300 meters from the Grand Cathedral, and about 700 meters from the Green River, and about 12 minutes from the New Administrative Capital Airport from the northeast side. Area of Pukka Capital: The compound area is 40 feddans. Developer Company: Master Builders Group, with long experience in the field of real estate development, is the developer of Pukka Compound New Administrative Capital. Unit Types: Ground floor apartments, typical apartments, penthouses. Unit Areas: The area of apartments starts from 48 to 196 square meters attached with a garden on an area of 43 meters, and typical apartments on an area starting from 106 to 227 square meters, and penthouses on an area starting from 147 to 274 square meters. Price per Meter: The price per meter starts from 33,500 Egyptian pounds, with a total price of up to 7,350,000 Egyptian pounds. Payment System: A unit can be obtained without a down payment with installments over 5 years, and 5% down payment then 5% after 6 months with the rest to be paid over 6 years, also 10% of the unit value can be paid, and 5% after a year with the rest over 7 years, 20% of the unit value is paid and 5% after 6 months with the rest over 8 years. Services: Swimming pools, private garages, entertainment areas and playgrounds, commercial area, medical services, cafes and restaurants. Castle Landmark Compound New Administrative Capital About Castle Landmark Compound New Administrative Capital: For those looking for sophistication and luxury, here's Castle Landmark Compound New Administrative Capital with its international design. Location of Castle Landmark New Administrative Capital: The compound is located in the seventh residential district in plot A1 of the Green River area, 500 meters from the Cathedral, and about 10 minutes from the Embassy District, 20 minutes from the Administrative Capital Airport, next to South Compound. Area of Castle Landmark Capital: The compound area is about 43 feddans. Developer Company: Castle Real Estate Development Company is the developer of Castle Landmark Compound New Administrative Capital. Unit Types: 44 residential buildings, each consisting of 7 floors with apartments on different areas. Unit Areas: The area of residential apartments starts from 80 to 285 square meters. Unit Prices: The price of units starts from