The government exerts great efforts to attract the investors to Egypt via establishing new real estate projects to be the start for real estate development and also to let the companies to invest in Egypt and revive the real estate movement.
For instance, it was assured that there are new areas (lands) for investment in New El Alamein as the Ministry of housing, utilities, and urban development stated. Also, it is expected that the sizes will be ranged from 50 to 400 acres. However, it is worth to mention that once it has been declared about this lands for investment, the ministry got lots of requests from the local and Arab investors to own a portion in these lands for investment.
The New El Alamein will be as a cooperation between the Ministry of Housing and the Armed Forces Engineering Authority as this will be a comprehensive real estate community culturally, globally, economically, and socially.
The New El Alamein is near to Alexandria gates via the new coastal road and it overlooks the red sea. Also, it overcomes the problem of rising sea level to be able to establish the real estate projects and invest in it.
Moreover, it is expected that El Alamein will have all the needed facilities. Also, there you will find new technologies like the solar power as the source of electricity, water treatment, and many others.
Concerning the phases of establishing the project. The first phase is done and almost 5000 residential units have been built. Also, it is expected that the project will have hotel, commercial, administrative, as well as recreational services and facilities.
There still lots and lots of investments that come to Egypt and there is a good chance for real estate investment to revitalize Egypt’s economy.