The real estate market in Egypt has witnessed notable growth in recent years, with the development of new cities and urban projects. One of the largest of these projects is the new administrative capital, which is considered an integrated city. Development real estate companies compete to provide their best innovations in shaping the urban landscape and meeting the growing demand for quality housing and commercial spaces.
In this article, we will explore the objectives of development real estate companies, highlight various projects in the New Administrative Capital, and provide an overview of New Event Developments, one of the top real estate developers in the Middle East.
Development Real Estate Companies Contributions
Top real estate developers have specific objectives that drive their operations and contribute to the overall growth of the real estate sector. These objectives include:
- Urban Development: Development real estate companies aim to create sustainable and well-planned urban communities. They focus on designing and constructing residential, commercial, and administrative projects that provide modern amenities and promote a high quality of life for residents.
- Meeting Housing Demand: With a rapidly growing population, there is a pressing need for affordable and quality housing. Real estate developers work towards meeting this demand by constructing residential complexes and affordable housing units that cater to different income segments.
- Economic Growth: The real estate sector is vital in driving economic growth. Development real estate companies contribute to this growth by creating employment opportunities during the construction phase and attracting investments in property sales and rentals.
- Infrastructure Development: developers in real estate often collaborate with government entities to improve infrastructure in the areas where their projects are located by providing modern, well-planned spaces and infrastructure that cater to the needs and aspirations of the community. This includes developing roads, utilities, and public amenities, which contribute to the overall development of the region.
New Administrative Capital Projects
The New Administrative Capital is one of Egypt's most ambitious and massive projects, designed to alleviate the population density in Cairo and create a modern administrative hub. Several developers in real estate have embarked on projects in this new city, offering a diverse range of residential and commercial properties. The following are some of the most important projects:
- The Governmental District: It includes the governmental administrative offices and institutions.
- Central Business District: A commercial area that attracts local and international businesses.
- Al Fattah-AlAlam Mosque: One of the largest mosques in the MENA region.
- The Electric Train: It connects the administrative capital with other districts.
- Downtown New Capital: It includes banks, malls, markets, and entertainment places.
- Museum of Egyptian Capitals: This museum showcases the rich history and heritage of Egypt.
- Various Residential Neighborhoods and Compounds: Providing modern and comfortable living spaces for residents.
New Event Developments
New Event Developments is one of the leading real estate development companies in the MENA. Founded by Dr. Hamid Al Rgwy, the company has over a decade of experience in the Egyptian real estate market, in addition to the Middle East and North Africa region. New Event Developments have a strong portfolio in these markets. We aim to develop an integrated portfolio, including residential, commercial, and administrative properties.
Our projects in the new administrative capital include:
- H Mall: which is positioned in a very remarkable place in the New Capital Downtown area with breathtaking views of Central Park and the Data Center. This architectural marvel takes the form of the letter H, exuding captivating design. H Mall presents a diverse array of commercial shops and administrative offices, offering a total project area of nearly 4.7K square meters.
- Trave Business Complex: Another architectural masterpiece from New Event developments serving as an iconic guiding light for the entire Downtown and Central Park vicinity, making it the sole luminous landmark in the heart of Downtown. It is located near pharmaceutical companies, computer companies, and the government district.
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