Eng. Ahmed El Attal: Sales in the New Administrative Capital Account for Nearly 50% of Real Estate Market Sales.

Eng. Ahmed El Attal, Chairman of EL ATTAL HOLDING, confirmed that real estate sales in the New Administrative Capital accounted for 40% to 45% of total real estate market sales last year. Speaking at EDGE Conference on the New Administrative Capital and Smart Cities, he noted that the capital’s real estate market continues to attract strong customer demand due to its positioning as an integrated smart city. El Attal explained that there is significant flexibility in dealing with the New Administrative Capital Company, particularly regarding licensing and approval procedures, provided that developers have complete documentation and are in good standing. He also highlighted the company’s monthly follow-up process, with developers required to present quarterly updates on their projects’ execution progress—an approach he described as highly positive, particularly for serious and committed developers. He emphasized that the level of development achieved in the New Administrative Capital is highly impressive, noting that the progress achieved by 2022 would have previously required until 2025. He added that sales in the capital are approaching 50% of the overall real estate market. El Attal further stated that the number of real estate development companies operating in the New Administrative Capital has reached approximately 500, with no significant issues or crises reported among developers in the capital’s real estate market.