New Alamein City Projects to Receive Additional EGP 25 Billion

New Alamein City projects will receive an additional EGP 25 billion for the 2021/2022 fiscal year, as it inches closer to realising its goal of becoming a centre for tourism and education. The government funds will cover part of the cost of the city’s new EGP 30 billion towers, which will be constructed with Chinese company CSCEC. Total spending on New Alamein city has reached more than EGP 65 billion so far.

This grand development project will transform the Mediterranean coast and cultivate a new integrated urban community. By mid-2022, the first phase of the beach towers will be complete, including 15 residential and hotel towers.

Part of the entertainment area, nestled in the middle of the beach towers with a direct view of the sea, will be operational soon, during the summer of 2021. This central area will include an array of stores, restaurants and shopping centres. The ministry has already delivered 38 new residential buildings last year and is currently preparing to launch over 4,000 units in the Sakan Misr project.