Dr. Abdelkhalek Ibrahim, Assistant Minister of Housing for Technical Affairs, along with Engineer Amr Khattab, General Manager in the Minister’s Office, and Ambassador Hassan El-Leithy, Ministry Advisor for International Cooperation, welcomed Kanazawa Yukio, a real estate legend in Japan and owner of “Titan Capital,” along with his investment consortium of 15 companies. The delegation toured Egypt’s New Administrative Capital, following the directives of the Minister of Housing during a prior meeting with Kanazawa.
Tour of the New Administrative Capital
Dr. Abdelkhalek Ibrahim provided Kanazawa Yukio and his team with a detailed overview of the urban development renaissance in Egypt, driven by President Abdel Fattah El-Sisi. The Assistant Minister highlighted that the New Administrative Capital is part of the national strategic urban development plan, strategically positioned as a gateway to the Suez Canal region and a key hub for the development of the Sinai Peninsula.
The New Administrative Capital is set to become a major industrial and technological hub, benefiting from its proximity to key ports and connections to existing urban areas via modern public transportation networks.
Key Developments Highlighted
From the highest point in Africa, atop the Iconic Tower, Engineer Amr Khattab briefed the Japanese delegation on the land-use planning and progress made in the first phase of the New Administrative Capital. Spanning a total of 170,000 acres, the first phase covers 40,000 acres, including the Central Business District, which features 20 towers, among them the 400-meter-tall Iconic Tower, the tallest in Africa.
He also highlighted “Capital Park,” Africa’s largest central park and the second-largest globally, which aims to provide a new model of Egyptian urban living and enhance quality of life. Residential areas are already welcoming new residents, and the government district has been operational for over 18 months.
Japanese Delegation’s Response
Kanazawa Yukio, along with the 15-company consortium, expressed their admiration for the impressive accomplishments Egypt has achieved in such a short timeframe. The speed and scale of these projects, they noted, are difficult to replicate elsewhere in the world.
Kanazawa confirmed his intention to transfer a significant portion of his investments to Egypt, amounting to $8 billion. Additionally, the investment consortium, consisting of leading companies, sees Egypt as a promising market and a gateway to both the Arab and African regions due to its strategic location and influential role in the Middle East.
