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[Egypt] New El Alamein city sees $4bn investments, housing minister

[Egypt] New El Alamein city sees $4bn investments, housing minister

Projects involved in Egypt’s new El Alamein city have raised 62 billion Egyptian pounds ($4 billion) to date, the minister of housing, utilities and urban communities said. 

Assem El-Gazzar added these projects have offered 100,000 job opportunities in the city, pointing that the value of the New Alamein city plan for the fiscal year 2021/22 amounts to 17.14 billion Egyptian pounds. 

The amount of investment is implemented across three key sectors: the utilities sector, the housing sector and the services sector, he added. 

The details came during the minister’s tour with the prime minister Mostafa Madbouly to review the latest stages of the project.

Located on the North Coast, the city is being constructed along a total built-up area of about 737,000 square meters, in addition to a wastewater treatment plant with a capacity of 90,000 cubic meters per day.


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