CAIRO – Chairman and Managing Director of The Administrative Capital for Urban Development (ACUD) Engineer Khaled Abbas, confirmed that the financial district is in its final stages, with the finishing touches being applied to welcome all the working entities as of October, according to each sector’s schedule.
In an interview with MENA, Abbas stated that the financial district is one of the most important economic areas in the New Administrative Capital (NAC). It is equipped according to world-class standards and includes 18 bank headquarters, in addition to the headquarters of the Central Bank of Egypt (CBE), the Egyptian Stock Exchange, and several important economic and financial entities, he said.
It also houses the new headquarters of the African Export-Import Bank, and it is expected that the headquarters of the Islamic Development Bank will move to the NAC, as well as regional offices of major local and international companies, he added.
He noted that several branches of banks have already started operating in the financial district in preparation for the relocation of their main headquarters.
Meanwhile, Abbas said the number of families currently residing in the NAC has reached about one thousand families, with the target being between 7,000 and 8,000 families by the end of 2024. This indicates the city’s readiness for living and the availability of all necessary services for life, he said. It is targeted that within the next three years, the number of residents in the city will grow to about one million, he added.
Abbas pointed out that all services that help citizens live in the city are available, including education and health services, as well as the readiness of all utilities and the availability of restaurants and some entertainment activities.
He explained that the NAC currently includes two types of parks, among them the Green River Park, which is the largest park in the world, and the People’s Park. The company aims to expand entertainment projects such as establishing an amusement park to meet the needs of different social groups in the city, he noted.
Regarding the community participation of the ACUD, Abbas explained that the company has developed a plan as an executive management to focus on community participation through two sectors: education and sports. The company has provided scholarships for 80 students from Upper Egypt to enroll in the universities located in the city, where there are five international universities. The company takes full responsibility for these students, providing for all their social and educational needs.
He noted that the other sector for community participation is sports, as the ACUD has become the official sponsor of Egyptian football. Soon, in collaboration with the Football Association, it will be announced that the company will be the official sponsor of the Egyptian delegation for the Paris Olympics, he added.
The company has successfully hosted several sports activities such as the Handball Championship, the Club World Championship, and the Continental Championship, he said.
Additionally, ACUD organized and sponsored the Egypt Capital Cup, with the participation of international teams alongside the Egyptian national team.
