Investments in new cities amounted to 705 billion pounds..Offering 201 investment opportunities in the last quarter of 2023

Dr. Walid Abbas, Vice President of the Urban Communities Authority, said that within 9 years, the map of Egypt changed, and the urban area increased from 7% to 14%, thanks to the fourth generation cities, which began in 2018 and which represented Egypt’s project for the future and its dream of urban expansion and increasing built space and saving new cities from overcrowding, in addition to the fact that this generation of cities will serve as centers for business management within Egypt and the starting point for the shift towards globalization, and entering and competing strongly in smart cities.

Fourth generation cities represent the only solution to which the current government hopes to confront the expected population increase and escape from the disaster that threatens the governorates of Greater Cairo and some of the Delta governorates, and it is the frightening crowding that represents the real specter of these governorates. Escaping the valley and rebuilding the desert has become the winning horse. For the state, especially after the experience of the first generation cities succeeded in attracting citizens and attracting their attention, and the price per square meter in these cities became many times the price per square meter in the center of the governorates.

Overcrowded

He said that the population increase is from 2 to 2.5 million people per year, and thus we need from 800 thousand to one million housing units other than the planned areas, explaining that Egyptian urbanism has characteristics, as it is densely populated with residents and activities, and before 2014 it suffered from a lack of services and overcrowding, and its structure deteriorated. Basic and inadequate accommodation.

New cities and urban communities

He added: “International literature used to say that Cairo is the city of the dead, and that Egyptian cities are the most crowded cities in the world, which constitutes the poverty of urbanization. Urbanization is not cheap, but it is poor, because it does not benefit from its components and does not have tools for change. The president’s directive came to create a new generation of cities and communities.” New urbanism and the development of existing architecture. In 2014, we were 90 million and lived on 7% of the urban area, and in 2022 we are working on 13.7% of the republic’s area.”

Fourth generation cities

Fourth generation cities in Upper Egypt represent a real opportunity for development, and were a major reason for transforming the governorates of Upper Egypt into attractive areas for investment and the private sector. For the first time, major investment companies compete to obtain a plot of land within one of the cities of Upper Egypt.

According to the Ministry of Housing’s plan for fourth generation cities, it has allocated 14 new cities, within the various governorates of Upper Egypt, in two phases, the first phase of which includes 7 cities, and the second phase 7 other cities, and these cities provide approximately one million real job opportunities for the youth of those governorates, While about 7 cities, including the first stage, are inhabited by about 950 thousand people.

  Distribution of the large population increase

The goal of building fourth generation cities is not luxury, but rather to help distribute the large population increase, and double the Egyptian population instead of the large crowding in the valley and delta, in addition to placing Egypt on the map of global investments, pointing out that these strategic sites were chosen to achieve more than one criterion, Among them is the distinctive location that makes it compete globally and regionally, and that it is located on the specific development axes to double the population area, in addition to being linked to the major projects that the state is working to implement.

Attracting many foreign investments

A number of real estate experts unanimously agreed that the Egyptian state’s direction over the past 9 years, from 2014, until now, has contributed to attracting many foreign direct investments to the Egyptian economy in general and to the urban development sector in particular.

They added that urban development projects have provided a great deal of opportunities for the global and regional business community wishing to invest in Egypt, especially within the urban development sector.

Fourth generation city projects

The fourth generation city projects in Egypt were designed with advanced infrastructure and modern facilities. These projects included the development of a modern road network, an integrated public transportation system, and high-level service facilities, which gave great confidence to foreign investors to invest in these projects and provide an ideal environment to invest in.

The Egyptian government played a major role in attracting foreign investments to Egypt, as the Egyptian government established laws and legislation that encourage foreign investment, provide protection for investors, and facilitate establishment and operation procedures. Administrative procedures were simplified, bureaucracy was reduced, and financial and tax incentives were provided to foreign investors, which was a strong reason and motivation for the move. Investors towards investing in fourth generation city projects in Egypt.

Fourth generation city projects come within the framework of Egypt's economic strategy to achieve sustainable development and diversify the bases of the economy, as these projects aim to enhance economic growth, create new job opportunities, and increase domestic and foreign investments. Fourth generation city projects in Egypt also provide various investment opportunities in various sectors, including This includes commercial and residential real estate, technology and innovation, tourism and hospitality, heavy industry and financial services.