Official: Coalition of Major Investors to Pump Investments in NAC

The New Cairo and New Capital Developers Association continues its active role in encouraging real estate companies to pump new investments in the New Administrative Capital (NAC).

This comes within the framework of Egypt's President Abdel Fattah El Sisi's vision that the inauguration of the NAC 1st phase will be “a birth of a new state," and "declaration of new republic".

In this regard, Mohamed Albostany, President of the New Cairo and the Administrative Capital Developers Association, said that the entity held many workshops and seminars during the past period. They focused on the huge available investment opportunities in the NAC and real estate developers' role in supporting the state’s strategy to boost investments during the current stage to drive economic growth.

In a press release, Albostany added that despite Coronavirus pandemic challenges, the real estate market is witnessing one of its best periods ever in light of the size of the huge urban development projects implemented by the state, foremost of which the construction of 22 new cities, including the NAC, New Al-Alamein City, and New Mansoura city, as well as the projects carried out by the private sector across the republic which reflected positively on the national economy.

He also expressed optimism about the expected improvement in the real estate sector's performance during the coming period, based on the state's intensive efforts to confront the Coronavirus pandemic, whether at the health level or at the economic level, in addition to the state’s ongoing plans to achieve comprehensive development, in addition to the launch of major national projects that contribute to maintaining a positive growth rate.