El Mostakbal for Urban Development, the master developer of Mostakbal City, is directing EGP 5bn to Mostakbal City for utilities work through mid-2020, according to Essam Nassif, chairperson of the company.
On the sidelines of the company’s community consultation session to present the mechanisms of establishing Mostakbal City, Nassif pointed out that the company has developed an integrated strategy to work on speeding up the completion of the project’s utilities and services to meet the needs of developers, accelerate rates of development, and raise the city’s added value.
Nassif noted that the company has invested approximately EGP 2bn in the city’s main utilities work so far. The company began implementing utilities works in the middle of 2017, while the previous periods witnessed the implementation of earthworks and roads only, which is necessary to complete the implementation of utilities networks.
He pointed out that the company has completed the road network for the first phase of Mostakbal City and is currently working on the third and fourth phases.
With regard to water services, Nassif said the company has paid EGP 1.7bn to the New Urban Communities Authority (NUCA) for the cost of delivering of water to the city, noting that the company paid the last two instalments ahead of their scheduled times.
He revealed that the company intends to begin soon, in coordination with developers of Mostakbal City, procedures of establishing specialised service companies in many areas, including maintenance, security, hygiene, and sports, in order to maintain the highest level of services for the project.
The company’s consultation session included a group of representatives of projects neighbouring Mostakbal City in eastern Cairo, such as the New Administrative Capital, Madinaty, and Nasr City for Housing and Development, as well as officials from the NUCA, Egyptian Environmental Affairs Agency (EEAA), development partners in the city, and consultants.
The session aimed to discuss mechanisms of integration between different projects in order to maximise returns and ensure the realisation of the state’s plan for the rapid development of the eastern Cairo area.