– El-Sherbiny: The Egyptian state provides all means of support to investors…and works to provide an attractive climate for investment.
– El-Sherbiny tours the various components of the project…and praises the quality of the finishes and various works
Engineer Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities, continued his tour of the city of October Gardens as part of his inspection tour today in a number of new cities, following up on the position of the urban cluster project in the capital. Al Shams "Sun Capital" One of the Ministry’s partnership projects with the private sector in the city of October Gardens, accompanied by officials from the Ministry, the New Urban Communities Authority, the city authority, and project officials.
During his visit to the project, the Minister of Housing said, The Egyptian state provides all means of support to investors, and works to provide an attractive climate for investment, and we are keen to periodically follow up on all existing projects in partnership with the private sector. He expressed his happiness with his visit today For the Sun Capital project, which is a successful model of partnership between the Egyptian government, represented by the Urban Communities Authority, and the private sector, he expressed his aspiration to repeat the successful experience of the project with other projects Which the Ministry of Housing participates in or plans to have in Egypt.
Engineer Sherif El-Sherbiny explained that the New Urban Communities Authority sought to provide facilities to investors, under the directives of His Excellency Mr. President The Republic was keen to ensure flexibility and facilitate procedures, as the allocation through the partnership system provides facilities for paying the value of the land, to be in different and varied payment stages, and in return the Urban Communities Authority gets a cash share of the value of the land. The project also contains: An in-kind share for the Authority with an area of about 653 thousand residential square meters in addition to 50 thousand square meters for administrative activity, and 11 residential buildings were received within the share of the Urban Communities Authority
The Minister of Housing toured the various components of the project, praised the quality of the finishes and the general location of the project, and also inspected the residential part that was recently operated, where the delivery of a number of units was completed. Residential housing for customers according to the highest quality standards. The Minister also toured the sports club that was fully operated and serves the project’s residents, in addition to visiting the religious complex of Mrs. Awatef Misbah, which represents a qualitative addition to the project by providing community services. Distinctive.
During the visit, the Minister inspected the international school that was operated, which is one of the most prominent educational institutions in the region, in addition to inspecting the development work on the islands and streets surrounding the “Sun” project. Capital, which highlights the efforts made to develop the infrastructure and provide an integrated road network to serve the project and the surrounding areas.
Engineer Sherif El-Sherbiny also inspected the construction work at the “Fairmont” Hotel, Within the project, which is considered one of the largest hotel projects in Egypt, the hotel extends over an area of 240 thousand square meters, and includes 500 hotel rooms and 600 hotel units, in addition to 25 thousand square meters of administrative units, all under the management of the international brand “Fairmont.” The “Sun Capital” project is an integrated residential and touristic project located on an area of 575 acres, 60% of which is allocated to the residential part of the project with a total area of 2.4 million square meters, and the rest is represented in mixed-use areas, with a total building area of 1.8 million square metres, and the project provides 20,000 direct and indirect job opportunities.
The Vice Chairman of the Board of Directors pointed out He pointed out that the residential areas include (buildings, villas, and entertainment areas), and the investment area includes a university, a university hospital, international hotels, international schools, and commercial and administrative facilities. He explained that the new hotel project is proceeding at a steady pace according to the specified timetable, indicating that the construction work of the concrete structure will be completed. Before the end of next year, the foundations, columns and ceilings of the first and second basements have already been completed, with a total area of 64 thousand square meters, in addition to the ground floor, pointing out that it is expected that Finishing work will begin in the second quarter of 2025, with the hotel being fully operational by 2028.
For his part, Engineer Amr Diab, Vice Chairman of the Board of Directors for Technical Affairs, added: Project The first and largest commercial zone in Egypt and Africa that includes Many international brands and luxury restaurants, as well as a diverse international club for Olympic sports and recreational activities extending over an area of more than 4,000 square meters.
