On Tuesday, a significant land swap agreement was officially signed between Samla and Alam Al-Roum Urban Development Company and the New Urban Communities Authority (NUCA). The agreement involves the exchange of land in the Alam Al-Roum region of Marsa Matrouh for two prime plots located in New Cairo, marking a major development in the urban planning and real estate sectors of Egypt.
The signing ceremony was held in the presence of several high-ranking officials, including Dr. Walid Abbas, the Deputy Chairman of NUCA for Planning and Projects, and Eng. Amin Ghoneim, Deputy Chairman of NUCA for City Development and Urban Renewal. Dr. Hassan El-Shorbagy, NUCA’s Deputy Chairman for Real Estate and Commercial Affairs, signed the contracts on behalf of the authority, while the company was represented by Eng. Abdulaziz Mohammed Abdullah Yamani, Chairman of Samla and Alam Al-Roum Urban Development Company.
Dr. Abbas emphasized that the signing of this agreement comes as part of the directives issued by Minister of Housing, Utilities, and Urban Communities, Eng. Sherif El-Sherbini, following the guidance of the Egyptian political leadership. The contract is also in line with the ongoing efforts of the Cabinet’s Committee for Resolving Investor Disputes, which aims to resolve any challenges facing both local and international investors. There is a clear commitment from the ministry to facilitate investment and to remove any obstacles that might hinder the progress of both Arab and foreign investors.
In his remarks, Eng. Ghoneim highlighted the strong and enduring relationship between Egypt and Saudi Arabia, noting that Egypt warmly welcomes Saudi investments and offers full support to Saudi companies and investors. He pointed out that NUCA provides a wide range of investment opportunities, especially in the country’s new fourth-generation cities, including flagship projects such as the New Administrative Capital and New Alamein City.
