Latest news with #AdministrativeCapital
Daily News Egypt
4 days ago
- Business
- Daily News Egypt
New Capital's R8 Phase 2 set to generate EGP 150bn in sales from 16,000 units: Etqan
Etqan Financial and Commercial Consultancy has released its latest market study on residential real estate in the New Administrative Capital (NAC), coinciding with the launch of Phase 2 land plots in the R8 district — one of the city's most prominent and in-demand residential zones. The study identifies R8 as a key hotspot for real estate investment over the past two years, citing strong demand from developers and investors. This is largely attributed to the area's modern infrastructure, strategic location, and diverse real estate offerings. Developed predominantly by the private sector during NAC's first phase, R8 is strategically located near the Government District and the iconic Green River. The district spans over 2,500 feddans and includes 28 large-scale residential projects designed to house up to 450,000 people. Its layout features 1,620 residential buildings, 880 feddans allocated for services and facilities, and 35 feddans of green spaces. According to Etqan's findings, the total number of sold units in R8 currently stands at 18,700 — roughly 34.5% of the total projected inventory of 54,200 units. Approximately 10,000 units remain available. However, the area is primarily dominated by apartment buildings, with no villa-only developments. This homogeneity is partly due to the repurposing of the La Verde Cassette hotel into residential apartments, the study noted. Construction progress in R8 lags behind other districts, posing a concern for potential investors. Of the 28 projects, 12 are still in early construction stages (0–30% complete), four are between 30–60%, and another 12 have reached 60–90%. On average, construction progress across the district is at 44%. The disparity in progress is attributed to the staggered launch dates of various projects within R8. Hotel-serviced units are limited, with only four projects currently offering such options. These units are fully finished and eligible for conversion into hotel apartments. Bassem El Sherbiny, CEO of Etqan, said the study aims to guide both policymakers and developers by providing data-driven insights into market dynamics. He confirmed that the Administrative Capital for Urban Development (ACUD) has launched a new phase of R8 land plots, offering 16 parcels ranging in size from 14 to 60 feddans. 'R8 continues to be one of the NAC's most dynamic and attractive investment destinations,' El Sherbiny said. 'Only 50% of the district's total land area has been developed so far, while the remaining half represents untapped potential — with 28.5% now entering the market. This marks a golden window for forward-thinking developers.' Over the past two years, more than seven new residential projects have been introduced in R8, reflecting rising investor confidence and heightened demand. El Sherbiny highlighted that property values in R8 have skyrocketed — from just EGP 6,000 per sqm in 2016 to more than EGP 45,500 per sqm in 2025. 'This sharp increase — up from EGP 40,000 in 2024 — underscores robust demand and significant investment returns,' he said. Ahmed Abdel Aziz, Executive Partner and Financial Consultant at Etqan, added that Phase 2 of R8 is expected to bring approximately 16,000 new residential units to the market, generating projected sales of EGP 150bn. He also pointed out that the NAC's residential market has outpaced both New Cairo and West Cairo in terms of price growth — with property values increasing nearly 30% more — and exceeding national inflation rates by 160% between 2016 and 2024. El Sherbiny concluded by emphasizing Etqan's broader role beyond research. 'Our mission is to equip our clients with actionable strategies. Etqan has already supported residential sales exceeding EGP 16bn in the NAC,' he said.
Zawya
13-05-2025
- Business
- Zawya
Cityscape Egypt 2025 kicks off with Steering Committee Meeting for Egypt Real Estate Summit
Cairo, Egypt: In a significant move to establish a unified and actionable vision for Egypt's real estate and urban development sector, Cityscape Egypt 2025 has officially launched with the formation of a high-level steering committee. The committee convened its inaugural meeting on May 6 in the New Administrative Capital, bringing together senior government leaders to discuss investment strategies and opportunities across Egypt. This milestone sets the stage for a structured dialogue to align national priorities with market needs and define the strategic roadmap for the Egypt Real Estate Summit 2025, scheduled for September. The committee will serve as the central decision-making body for the summit, ensuring it delivers policy-relevant outcomes to advance one of Egypt's most critical economic sectors. It is designed to foster long-term collaboration among ministries, regulators, investors, and developers, enabling cross-sector investment beyond just real estate. With Egypt undertaking some of the region's most ambitious urban transformation projects, from next-generation smart cities to climate-resilient infrastructure, the committee plays a pivotal role in aligning the summit with Egypt Vision 2030. Its mission includes developing a cross-sector roadmap that integrates real estate with investment, infrastructure, tourism, and sustainability. Committee members include: Eng. Khaled Abbas, Chairman and Managing Director, Administrative Capital for Urban Development Hossam Heiba, President, General Authority for FreeZones and Investment (GAFI) Eng. Fathallah Fawzy, Chairman, MENA for Real Estate Consultancy Shaimaa Shousha, General Manager – Strategic Department, Industrial Development Authority Dr. Mohamed Raghad, Environment Department, Tourism Development Authority The committee's first meeting focused on enhancing coordination between ministries and regulators and identifying investment opportunities across various real estate asset classes, including residential, commercial, industrial, and hospitality. Discussions focused on improving the investment climate, unlocking high-potential projects, and attracting both local and international capital. Robier Daniel, Cityscape Exhibition Director, stated: 'Cityscape Egypt has always been more than a real estate event. It's a platform for strategic dialogue, investment partnerships, and sustainable urban transformation. With the formation of the steering committee, Cityscape Egypt 2025 is emerging as a driving force behind policy innovation and integrated growth. We're creating a space where public and private sector leaders converge to shape the cities of tomorrow and unlock Egypt's full development potential.' Eng. Khaled Abbas, Chairman and Managing Director of Administrative Capital for Urban Development, stated: 'The Egypt Real Estate Summit comes at a pivotal moment that aligns with the country's unprecedented boom in urban development. The summit is a strategic platform, guided by a high-level steering committee of public and private sector leaders to ensure that policy directions are aligned with national priorities. By bringing together decision-makers, investors, and urban development leaders, we contribute to creating effective synergy between the national vision and emerging investment opportunities, while reinforcing the New Capital's position as a hub for smart, sustainable growth and a magnet for investment at the heart of Egypt's future.' Hossam Heiba, President of General Authority for Investment and Free Zones (GAFI), commented: 'The Egypt Real Estate Summit 2025 offers a practical opportunity to translate the national investment strategy into tangible outcomes. Through the steering committee that brings all key stakeholders to the table, we are accelerating mechanisms to attract quality investments aligned with Egypt's economic shifts, particularly in infrastructure and urban development. This platform goes beyond showcasing opportunities; it provides an effective coordination tool between public and private sectors, strengthening Egypt's competitiveness as a regional destination for smart and sustainable investment.'
