New Launch - India Real Estate Report 2026.
Egypt has developed 39 new cities over the past decade as part of its urban expansion strategy, with the New Administrative Capital emerging as the country's flagship smart city and a model for investment-led development, Deputy Minister of Housing for New Urban Communities Walid Abbas said on Monday. The milestone was announced at a forum specifically convened to mark ten years of progress on the New Capital project.
The New Capital's Role
Speaking at the opening of Capital Forum 2026, held under the patronage of Prime Minister Mostafa Madbouly, Abbas described the New Capital as an unprecedented urban development project that reflects Egypt's ability to implement its Vision 2030 strategy while creating a globally competitive destination for investment and business. He said the New Capital is more than a new city, calling it an integrated investment and development model that has strengthened Egypt's position in smart urban development. That framing positions the project not simply as a housing solution but as a broader economic and strategic undertaking for the country.
- New cities developed over the past decade: 39
- Flagship project: New Administrative Capital
- Event: Capital Forum 2026, marking the New Capital's 10th anniversary
- Organised by: Al Ahram, in partnership with Impact
Beyond Real Estate
Abbas said investment in the new cities extends well beyond real estate to encompass digital infrastructure, job creation and the attraction of both domestic and foreign direct investment, while expanding opportunities for private sector participation. He added that Egypt's urban development programme has been supported by smart infrastructure and an extensive national road network designed to improve connectivity, enhance quality of life and promote sustainable economic growth. This broader framing suggests the government views new city development as a tool for economic diversification rather than purely a response to housing demand.
Also Read: Egypt Outlines Second Tax Facility Package for Investors
ACUD's Perspective
In a separate address delivered on behalf of Administrative Capital for Urban Development (ACUD) Chairperson Khaled Abbas, ACUD General Manager Ahmed Fahmy said close cooperation between state institutions and the private sector has been instrumental in transforming ambitious development plans into tangible achievements. He said the New Capital, ten years after its launch, is entering a new phase focused on strengthening its competitiveness, attracting additional investment and reinforcing its position as a regional hub for business, finance and innovation.
Fahmy added that the city is also well positioned to export Egyptian expertise in the development and management of modern cities, reflecting the country's growing capabilities in delivering large-scale urban development projects. This point signals an ambition that extends beyond Egypt's own borders, positioning the New Capital's development model as a potential template other countries in the region could draw on.
What the Forum Aims to Achieve
Fahmy said the forum is intended not only to showcase the New Capital's achievements but also to foster dialogue on the future of smart and sustainable cities, digital transformation, innovative financing mechanisms and the private sector's role in advancing Egypt's development agenda. Capital Forum 2026 marks the tenth anniversary of the New Administrative Capital's launch and highlights its transformation into one of Egypt's largest and most advanced smart urban developments.
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