Land Price Per Square Meter in Administrative Capital Exceeds 70,000 EGP in Towers Zone

Engineer Khaled Abbas, Chairman of the Administrative Capital for Urban Development (ACUD), stated that the land price per square meter in the initial residential offering in the Administrative Capital was around 2,500 EGP, whereas it now ranges between 10,000 and 12,000 EGP per square meter.

He added that the price per square meter in the Towers zone exceeded 70,000 EGP, meaning that a 100-square-meter plot of land exceeds 7 million EGP in value, compared to around 250,000 EGP under the old price per square meter, and more than 1 million EGP in the current residential offering.

Abbas said that the company is working on completing the first phase of the Capital and is close to finalizing the designs for the second phase, expecting its first offering during the first quarter of 2027.

He revealed that the company is studying listing its shares on the stock exchange, and that reevaluating its assets could raise the company's valuation close to one trillion EGP.

What do these terms mean?

New Administrative Capital: An administrative city being built east of Cairo to relocate government headquarters and ministries.

Administrative Capital for Urban Development: The state-owned company responsible for developing the new capital and offering its land plots.

Initial Public Offering (IPO): Selling a portion of a company's shares to investors on the stock exchange for the first time.

Asset Revaluation: Updating the book value of a company's assets to reflect current market prices.