“Administrative Capital For Urban Development”, ACUD, is set to blossom with the construction of five massive data centers, attracting $40 billion in investments. These centers will position the region as a hub for technology and cloud computing, offering cutting-edge infrastructure and driving innovation.
Khaled Abbas, CEO of the company, said that the New Administrative Capital is witnessing the construction of the first two data centers with a capacity of up to 1800 megawatts. In addition, the company seeks to increase its capacity by building other centers that cover customers’ demands in the future.
Abbas added that the new data centers would be operated with a storage capacity of 500 rak, serving the neighborhood’s residents, surroundings, and business hubs.
CEO of “ACUD” said that the company’s strategy to establish those centers is to collaborate with many innovative and well-known technology companies such as Google, Microsoft Office, and Amazon.
It was pointed out that investing in technology centers is highly costly. Therefore, partnerships with specialized entities will be studied to enter such ventures. Despite the high costs, the work will continue to establish and provide these centers in the capital, considering them as key future services that save time for investors and reduce losses in the used facilities.
It has been highlighted that Egypt’s administrative capital will be the country’s initial sustainable and smart city. Therefore, substantial investments of up to 4 billion Egyptian pounds have been made to set up a central control center for managing all the facilities and services offered to the inhabitants and tourists.
Abbas stated that through the control center, the consumption of electricity, water, and gas in residential units will be determined, traffic movement on roads will be monitored, and fiber optic networks will be extended to various areas of the capital, whether the developed or the expected areas of development, in preparation for the continued implementation of automated control in different stages of the capital.
Abbas stated that the company’s spending on construction and infrastructure will amount to about 155 billion pounds over three years, including 40 billion during 2022, 55 billion during the current year, and a targeted 60 billion pounds for the next year.
During a conference held by the Egyptian Businessmen Association last week, he added that the profits of the Administrative Capital Company reached about 27 billion pounds before tax deductions and 22 billion pounds after taxes during the current year. He also mentioned the payment of approximately 5 billion pounds in taxes during the current year.
The Chairman of the Board of Directors and Managing Director of the Administrative Capital for Urban Development Company further stated that the company’s assets have increased to 300 billion pounds compared to 255 billion pounds last year.
Abbas revealed that the company will soon begin implementing the first phase of the industrial zone within the new administrative capital on Ain Sokhna Road, covering an area of 2,000 acres. The company currently requests about 3 million square meters from developers and expects to contract with the first industrial developer soon.
He also highlighted that the company is currently constructing a water station with investments of 40 billion pounds to draw water from the Nile over a length of 55 kilometers with a capacity of 1.5 million cubic meters. It is planned to start operating after two years, with the first phase having a capacity of 850,000 cubic meters.
