Egypt’s six private-sector construction firms are looking to finalise implementing the Latin Quarter in New Alamein City, northwest of Cairo, within the next five years, an official source said on Wednesday.
The Latin quarter will include the establishment of various residential, cultural, and services flagships, the source in one of these construction firms further told Amwal Al Ghad.
“The first phase of the Latin Quarter is set to be completed within around 18 months,” he said, adding that the quarter’s investments reach 20 billion pounds.
Egyptian Prime Minister Moustafa Madbouly earlier said the 450-feddan quarter, having the classical architectural style of Greco-Roman Alexandria Latin Quarter, is set to include 12,000 housing units, besides, educational, health, religious, and commercial services.
On March 11, President Abdel Fatah al-Sisi issued a decree to form a committee to allocate thousands of feddans for New Alamein City project
The committee was headed by the presidential aide for national and strategic projects Ibrahim Mahlab, according to the decree released by the official Gazette in Egypt.
The decree allocated a total land area of 41,703 feddans of the state’s lands in New Alamein to NUCA as well as other 7,268 feddans of coastal lands located along the Alexandria-Marsa Matrouh road for the city.
The tourist site in Tal al-Eis village, with an area of 21.8 feddans, will still belong to the Ministry of Tourism, according to the decree. Other tourist attractions within the allocated lands will be excluded from the decree as well.
Real estate company SODIC signed two revenue-sharing agreements for two adjacent plots, with a total land area of 308 feddans on the Mediterranean North Coast of Egypt, a statement from the company said Sunday
On March 1, Sisi inaugurated the first phase of New Alamein, which will also include a national university that comprises a bunch of applied science faculties, an opera house, a library, and a museum.
The city is located on an area of more than 48,000 feddans (49,824 acres) in Alamein town on Egypt’s Mediterranean coast. It is designed to include 5,000 housing units to accommodate more than 400,000 inhabitants.
