As part of efforts to strengthen development diplomacy and attract investments, the New Urban Communities Authority (NUCA) has signed a land allocation contract for a 28-feddan plot in New Cairo with Horizon Egypt for Urban Development, with total investments exceeding EGP 15 billion.
The project supports the directives of Minister of Housing, Utilities, and Urban Communities, Eng. Sherif El-Sherbiny, to enhance investment partnerships and boost state resources through optimal utilization of assets.
Eng. Ahmed Ali Mohamed Hassan, NUCA’s Vice President for Real Estate and Commercial Affairs, explained that the project aligns with the state’s strategy to maximize returns from investment lands and supports the national economy through effective partnerships with Arab investors. He added that the project enhances New Cairo’s position as a key investment and tourism hub and contributes to job creation and sustainable development.
The contract was signed on behalf of Horizon by Sheikh Majid bin Saeed Al-Nuaimi, who noted that investing in New Cairo aligns with Egypt’s vision of establishing modern, regionally competitive cities.
He emphasized that the project represents an important component of the state’s strategy to promote sustainable urban development and position Egypt as a regional center for real estate and tourism investment in line with Egypt Vision 2030.
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