{"id":660506,"date":"2025-02-12T00:00:00","date_gmt":"2025-02-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/12\/acud-to-offer-second-phase-of-new-administrative-capitals-development-in-march\/"},"modified":"2025-02-12T00:00:00","modified_gmt":"2025-02-12T00:00:00","slug":"acud-to-offer-second-phase-of-new-administrative-capitals-development-in-march","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/12\/acud-to-offer-second-phase-of-new-administrative-capitals-development-in-march\/","title":{"rendered":"ACUD to offer second phase of New Administrative Capital\u2019s development in March"},"content":{"rendered":"

Good afternoon folks, and happy Wednesday. <\/strong>Despite a relatively slow domestic news day we have a packed issue for you today, with juicy morsels on ACUD, neo-noir, and the gender wars\u2019 latest front \u2014 the \u201cick.\u201d<\/p>\n

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THE BIG STORY TODAY<\/p>\n

Second phase of new capital\u2019s development to be offered in March: <\/strong>The second phase of the New Administrative Capital\u2019s development will be offered to an international consortium in France in March, Administrative Capital for Urban Development (ACUD) chairman Khaled Abbas told Asharq Business<\/a>. Abbas also noted that the new capital\u2019s airport will complete its international upgrade in April.<\/p>\n

Better late than never:<\/strong> Abbas said last March<\/a> that ACUD planned to start construction on the second phase of the new administrative capital (NAC) early this year at a cost of EGP 240 bn (c. USD 4.8 bn at the time). ACUD had previously penciled in<\/a> a 2Q 2024 or 3Q start at the latest, with the second phase originally set to cost over EGP 300 bn.<\/p>\n

We haven\u2019t heard much about the project\u2019s second phase since last March, <\/strong>when we got word that three industrial developers had submitted offers<\/a> for 1 mn sqm plots included in the project\u2019s second phase. ACUD also that month signed a shareholders\u2019 agreement with French IT giant Atos to set up a JV to manage and operate smart tech services in the new capital. <\/p>\n

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THE BIG STORY ABROAD<\/p>\n

The global economy is front and center in the int\u2019l headlines this morning, <\/strong>with news that US president Donald Trump\u2019s administration is finalizing reciprocal tariffs<\/a> on countries that respond to US tariffs with higher trade barriers of their own, ratcheting up fears of a trade war and higher US inflation. US stock index futures were subdued this morning<\/a>, as traders awaited the release of January\u2019s US consumer price index (CPI) data later this afternoon. The reading is set to be the last before Trump\u2019s tariffs enter the measure\u2019s calculus, marking the jumping-off point for assessing the impact of Trump\u2019s trade policies in the coming months.<\/p>\n

Closer to home, there are more rumblings that the ceasefire between Israel and Hamas <\/strong>may be breaking down. <\/strong>The Israeli government has reportedly remobilized army reservists<\/a> ahead of a Trump-imposed deadline on Saturday for Hamas to release all Israelis still held by the group. Hamas has not agreed to the Saturday release date, with mediators currently conducting urgent shuttle diplomacy to hammer out a solution before the deadline.<\/p>\n

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