The Administrative Capital Co. for Urban Development (ACUD) is preparing to release fresh land parcels in its newly designated business hub, projecting investments of nearly 100 billion Egyptian pounds (around $2 billion), according to a source familiar with the company’s land strategy who spoke to Al Manassa.
In July, ACUD reorganized part of the Downtown area—where project delivery and service provision lagged due to inflation, currency devaluations, and financial constraints on developers—into what is now the New Business and Financial District. Several firms had postponed construction schedules under these macroeconomic pressures.
The source, who requested anonymity, said the upcoming land release will take place this year. Plot sizes will range from 2,000 to 5,000 square meters and will be zoned for commercial, administrative, and a limited number of hotel projects.
ACUD planners have finalized the district’s zoning scheme and expect robust investor interest given the district’s proximity to the government quarter, a location anticipated to boost demand for office and retail development.
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Last week, ACUD Chairman and CEO Khaled Abbas confirmed that the company delayed selling 4,000 feddans (16.8 million square meters) from the first phase of land allocations. He said the move was intended to maximize returns as land prices continue to rise.
“We plan to release the remaining plots from the first phase to private-sector firms, designating them as premium parcels since they represent the last portion of land with complete infrastructure and readiness for immediate development,” Abbas told Al Manassa during a press briefing.
The capital’s original business district spans about 320 feddans and already hosts the Central Bank, the Egyptian Stock Exchange, and approximately 20 bank branches, most of them state-owned. All 106 plots in this initial district have been sold.
