The New Urban Communities Authority has witnessed the signing of a contract to allocate a distinguished commercial and hotel project in New Cairo, covering an area of 28 acres, with Horizon Egypt for Urban Development. The project involves total investments exceeding EGP 15 billion.
This step comes in line with the directives of Minister of Housing, Sherif El-Sherbiny, to support high-return investments and enhance the developmental utilization of state assets in a way that contributes to the advancement of new cities and strengthens their competitiveness.
Engineer Ahmed Ali Hassan, Deputy Chairman of the Authority, affirmed that the project highlights the state’s approach to maximizing real estate investment and represents a successful model of partnership with Arab investors. He added that it reinforces New Cairo’s position as an attractive hub for tourism and specialized services while contributing to job creation and sustainable development.
The contract was signed on behalf of Horizon Egypt by Sheikh Majid Al-Nuaimi, Chairman of the Board, who emphasized that the project aligns with Egypt’s vision of developing modern cities of regional standards. From the Authority’s side, the contract was signed by Engineer Ahmed Ali Hassan, in the presence of its senior officials.
This project reflects the state’s commitment to integrating economic diplomacy with sustainable urban development, reinforcing Egypt’s position as a promising destination for real estate and tourism investment. The agreement comes within the framework of strategic projects that support the real estate sector and the national economy in line with Egypt’s Vision 2030.
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