By: Abdullah Bedeir
Cairo – Mubasher: A new presidential decree is expected to be issued in the near future for the establishment of Ras El-Hikma City, set to be the second planned city in the North Coast after New Alamein City, the Deputy Minister of Housing, Khaled Abbas, said.
On the sidelines of a press conference on the future of urban development in Egypt on Sunday, Abbas announced the establishment of New Suez City over an area of 40,000 feddans to serve the people of Suez.
Moreover, the country is studying the establishment of several new cities under the urban development strategy for 2052 in response to the expected population growth, he added.
The housing ministry has long supported the real estate market which contributes about 20% to the country's gross domestic product (GDP), the deputy minister added, referring to the recent expansions that included the establishment of 16 new cities.
Egypt has managed to increase the populated area to 12% thanks to the ongoing development of new cities, Abbas added.