World Construction Network
WCN EDITORIAL TEAM 5 SEP 2019
ATIP New Capital Entertainment (ATIP Entertainment) has won a contract from the Administrative Capital for Urban Development (ACUD) for a $20bn (£16.3bn) Entertainment District, spanning 4,256 acres, in Egypt’s New Administrative Capital, which has been under construction since 2015.
ITEC Entertainment (ITEC) has secured a contract to provide design, entertainment technology and management for ATIP’s development of the district.
The district will be constructed in three phases over a period of seven to 10 years, and is expected to create 700,000 jobs.
The plan includes 4-star and 6-star resorts and themed hotels; vacation rentals; luxury homes, villas and high-rises; a wellness centre; high-end and regional shopping and dining; a VIP golf course and other recreational and green space activities; and theme parks.
ACUD chairman Ahmed Zaki Abdeen said: “Egypt sits at the center of the world, as a cradle of civilization and ancient heritage. Today, Egypt enjoys one of the fastest growing economies; a robust population of over 100 million people with an educated, qualified and motivated workforce; and visionary leadership to move the country forward with powerful creative and business initiatives, such as the New Administrative Capital with ATIP’s Entertainment District centerpiece.”
The Entertainment District will also include cultural arts centre; convention centre; aviary, butterfly, topiary and botanical gardens/conservatories; planetarium; museum and recreational activities for children; sports and concert stadium; Formula One racetrack; an entertainment college.
ATIP Entertainment CEO Elsayed Zayan said: “Together, ATIP, ACUD and ITEC Entertainment will honor Egypt’s past, leverage its present commitment to growth and prosperity, and build the future of recreation, culture, leisure, shopping and hospitality for the Middle East.”
The district will feature the world’s tallest observation wheel, with views of Egypt’s past, present and future, and the world’s tallest obelisk designed to point toward the country’s bright future.
The development will also include a multi-modal transportation hub that will connect with the New Administrative Capital’s superhighways, infrastructure and high-speed rails.
ITEC Entertainment CEO Bill Coan said: “Our approach to this project brings a creative and technical synergy to create the most culturally expressive and dynamic experience to every person in every area of this amazing destination.
“We believe this project will elevate Egypt’s standing as a world leader and accelerate Egypt’s rapid economic growth with long term, sustainable development.”
Image: ATIP New Capital, ACUD to develop $20bn Entertainment District in Egypt. Photo: Courtesy of Christian Günther from Pixabay.