Housing Approves Plan for Warraq's Island Development

The Ministry of Housing, Utilities and Urban Communities approved on Sunday the general strategic plan for the development of a new urban community of the El-Warraq island.

According to the decision published, the Egyptian housing approved the new urban gathering, following the latest planning and building requirements, taking into account the maximum limitations of the building's altitude.

Last Nov., experts proposed a plan to develop the island in 4 stages, at an investment cost of EGP 10.5 billion.

The plan showed that the investment cost for the first stage amounted to EGP 2 billion, including construction works, the development of the corniche, and the main infrastructure works that include the establishment of two water treatment and desalination stations, as well as the implementation of the first stage of re-planning with 2000 housing units, including services, roads and networks.

[caption id="attachment_107577" align="aligncenter" width="668"] An illustration of the island's new business district[/caption]

The second stage comes at a proposed cost of EGP 2.5 billion to implement the island's main roads, the commercial and cultural areas, the central park, land scape, the development of the existing residential cluster and the tourist waterfront affiliated to it.

As for the third stage, its cost is estimated at EGP 1.5 billion to complete the networks, internal roads of the island, including the construction of the business and distinctive areas, while the fourth stage cost stands at EGP 4.5 billion to implement the rest of the re-planning areas to accommodate 8 thousand housing units, including services, roads and networks.

[caption id="attachment_107578" align="aligncenter" width="674"] El-Warraq island tourist waterfront illustration[/caption]

Also, an official plan was issued by the Ministry for the compensation of the Island's former residents, whether landlords or tenants.

According to the plan, the expected value of compensation is EGP 7 billion, distributed as follows: 6.5 EGP billion for owners of agricultural land owned or leased, EGP 141 million for residential units' owners, and EGP 353 million for owners of residential buildings for the value of the plots without construction.