Egypt’s new capital advances as investment interest grows
Egypt’s New Administrative Capital (NAC) continues to take shape, with phase two of the project getting underway, according to Khaled Abbas, chairman of the Administrative Capital for Urban Development (ACUD), the company spearheading the development. Speaking at MIPIM 2025, Abbas outlined the latest milestones in the $58 billion mega project designed to decongest Cairo and position Egypt as a regional investment hub.
The second phase, which is in the final stages of its master plan, will include a host of cultural and social developments such as an opera house, a music theatre, multiple museums, and a dedicated training centre for artists and musicians. “This will be one of our iconic projects in the city,” Abbas said.
With families already moving into the NAC, the city is gaining momentum as a livable urban space. “We have up to 4,000 to 5,000 families residing now, and by the end of the year, we expect to exceed 10,000,” he noted, highlighting efforts to create a high quality of life distinct from other Egyptian cities.
Beyond residential expansion, NAC’s industrial park has also seen strong investor interest, with 70% of the available space already sold. Additionally, ACUD has brought in international expertise, recently securing agreements with German firms to manage water and wastewater infrastructure.
Construction on phase two is expected to proceed more smoothly than the initial phase, as much of the foundational work, including major utility networks, is already in place. Looking ahead, Abbas emphasised that Egypt remains an attractive investment destination despite global economic volatility. “Egypt will be, in the coming years, one of the only places in the world for investment,” he stated, citing the country’s political stability and strategic location.
ACUD plans to actively promote NAC’s next phase at major real estate events across the UAE, Saudi Arabia, London and Asia, reinforcing Egypt’s commitment to positioning the new capital as a premier global investment opportunity.
