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Plan to develop 6th of October Gardens with EGP 1bn - Daily News Egypt

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Plan to develop 6th of October Gardens with EGP 1bn

Annual budget of EGP 2.5bn for 6th of October City Council


Head of the 6th of October City Council Essam Badawy announced a new plan to develop 6th of October Gardens area with the cost of EGP 1bn.

The plan includes establishing new water network for EGP 85m, sanitation and water treatment networks with EGP 332m, and expansions of currently-existing sanitation networks with EGP 80m.

Badawy said the plan encompasses building 40 residential blocks and six sports centres.

Former deputy head of the 6th of October City Council Mohamed Taher said the development of 6th of October Gardens is still under construction “so a lot of services are still need to be developed”.

According to Taher, the council’s annual budget per year is valued at EGP 2.5bn. Gates and axes to 6th of October City will also be developed under the new plan with the cost of EGP 600m, Badawy said in a statement.

The 6th of October City Council will also issue land to investors to implement health, entertainment, and service buildings there.

A demand for housing for low-income people in 6th of October prompted the government to build more units in the city in 2015 under its Social Housing Project.

Sales prices of apartments in 6th of October City decreased in the third quarter of 2015 and increased by 3% for villas, as a result of a shortage in the new supply, according to a Jones Lang La Salle (JLL) report. The report said the rental market in 6th of October City performed worse than New Cairo in the same quarter.

The Egyptian government wants to link 6th of October City to Cairo through the construction of a train network. The project cost approximately $1.5bn but did not receive any funding yet.

 

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https://ww.dailynewssegypt.com/2016/01/11/plan-to-develop-6th-of-october-gardens-with-egp-1bn/
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