{"id":79889,"date":"2024-01-03T18:31:05","date_gmt":"2024-01-03T15:31:05","guid":{"rendered":"https:\/\/www.nawy.com\/blog?p=79889"},"modified":"2024-01-03T18:31:05","modified_gmt":"2024-01-03T15:31:05","slug":"new-capital-second-phase-breaking-ground-in-2024","status":"publish","type":"post","link":"https:\/\/www.nawy.com\/blog\/79889-new-capital-second-phase-breaking-ground-in-2024","title":{"rendered":"New Capital Second Phase Breaking Ground in 2024"},"content":{"rendered":"

The new year is already looking bright with the news of the second phase of New Administrative Capital commencing soon. The Administrative Capital for Urban Development (ACUD) recently caused a stir in the market with several updates regarding the new city.<\/p>\n

From IPO to new investment opportunities, 2024 is surely looking rewarding.<\/p>\n

New Capital Second Phase<\/h2>\n

Established as a sustainable smart city that would diminish the burden on Cairo, provide a better quality of life for its residents, and offer an abundance of investment opportunities, New Administrative Capital<\/a> has kept the whole region, nay world, on its toes.<\/p>\n

The second phase of the city is expected to break ground by the 2nd or 3rd quarter of 2024.\u00a0<\/strong><\/p>\n

Commenting on that, ACUD’s Chairman – Khaled Abbas – said four international consultancies have submitted their bids for the planning of the second phase of the New Capital. The company is expected to announce the winning consultancy firm shortly.<\/p>\n

He went on to add that construction may cost more than the 300 billion due to the surge in prices.<\/p>\n

Already the New Capital has created various national and international investment opportunities and the development of the second phase may serve as a strong catalyst for new investments and economic growth.<\/p>\n

Learn about the city in A Complete Guide To Egypt New Capital<\/a><\/em><\/p>\n

ACUD IPO<\/h3>\n

In other news, ACUD is preparing to enter the Egyptian Exchange (EGX) by the 2nd quarter of the year.<\/p>\n

On that note, Khaled Abbass said that the IPO (initial public offering) on the stock exchange will not be less than 5% of the company’s shares, with a minimum value of 150 billion Egyptian pounds.<\/p>\n

Bear in mind that the company reported 24 billion Egyptian pounds in profits during the first three quarters of 2023 (19 billion after taxes). This can be a bullish indicator of ACUD’s future in the stock market.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new year is already looking bright with the news of the second phase of New Administrative Capital commencing soon. The Administrative Capital for Urban Development (ACUD) recently caused a stir in the market with several updates regarding the new city. From IPO to new investment opportunities, 2024 is surely looking rewarding. New Capital Second […]<\/p>\n","protected":false},"author":28,"featured_media":79897,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[7333,9614],"tags":[7334,109,113,16705],"class_list":{"0":"post-79889","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-nawy-bytes","8":"category-new-capital","9":"tag-nawy-bytes","10":"tag-new-administrative-capital","11":"tag-new-capital","12":"tag-real-estate-news"},"yoast_head":"\nNew Capital Second Phase Breaking Ground in 2024 - Nawy<\/title>\n<meta name=\"description\" content=\"New Capital Second Phase Breaking Ground in 2024 - Nawy bytes\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nawy.com\/blog\/79889-new-capital-second-phase-breaking-ground-in-2024\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Capital Second Phase Breaking Ground in 2024 - 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