Back to the complete issue
Wednesday, 10 March 2021

Test, test …

It’s time for trial operations to begin at the new administrative capital ahead of its inauguration before 2022. Up first: The area’s government district, where employees will be relocated in stages to test out the district and its facilities as of this August, Prime Minister Moustafa Madbouly said in a cabinet statement.

Where the district currently stands: As of last month, the district’s buildings were 90% equipped and furnished, Deputy Housing Minister Khaled Abbas said at the time. The district has also now been connected to utility infrastructure, including water lines, sewage systems, and the electricity grid, Housing Minister Assem El Gazzar said yesterday. The move to the new capital was scheduled to happen in June 2020 before President Abdel Fattah El Sisi decided to take a one-year delay on the inauguration of all national projects because of the pandemic.

MEANWHILE- The first phase of the Salam City-Tenth of Ramadan electric rail will also begin operating on a trial basis as of next August, ahead of opening to the public in October, Transport Minister Kamel El Wazir told El Hekaya’s Amr Adib (watch, runtime 5:35). The phase runs between Adly Mansour station and the new administrative capital. The trial will see two of 22 rail cars in operation. The ministry is also aiming to complete the construction of the concrete pillars for the USD 4.5 bn monorail project — which will extend a 54-km line between Nasr City and the new capital and a 42-km line from Sixth of October to Giza — by the time the new capital is inaugurated later this year, El Wazir added.

IN OTHER NEW CAPITAL NEWS- Modon Real Estate Development plans to spend EGP 3 bn on the build out of a residential development in the new administrative capital as its first foray into the nation’s real estate market, according to the local press.

CORRECTION: Modon Real Estate Development is not the Modon Developments SAE owned by the Lotfy Soliman family, but a separate and unrelated company. This story was corrected on 10 March 2021.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.