New Capital aims for 250,000 residents within three years
The head of the company that runs the New Administrative Capital says about 30,000 people live there now, and the number should double by the end of 2026.
New Administrative CapitalKhaled Abbas, chairman of the Administrative Capital for Urban Development (ACUD), says the New Administrative Capital is aiming for 250,000 permanent residents within three years. About 30,000 people live there today, and he expects that to reach around 60,000 by the end of 2026. The city is planned for about 6.5 million people in the long run.
Abbas said the Central Bank of Egypt is expected to move to the city in the coming months, followed by 18 banks. Ministries completed their move in 2023, and the Government District houses the Cabinet and Parliament.
He also said 10 to 12 developers in the city are behind schedule, but none has walked away from its project. Land in parts of the towers district now sells for more than 70,000 pounds a square metre, against 25,000 when it was first offered.