This step follows directives from Engineer Sherif
El-Sherbiny, Minister of Housing, Utilities and Urban Communities and Chairman
of NUCA, emphasizing the need to support high-return investment partnerships
and provide a development-friendly environment that maximizes state resources
and optimizes asset utilization, in line with an integrated economic and
developmental vision that enhances the competitiveness of new urban cities.
Engineer Ahmed Ali Mohamed Hassan, NUCA Vice President for
Real Estate and Commercial Affairs, said the project reflects the state’s
approach to maximizing returns from investment lands and generating real added
value for the national economy. He added that the project serves as a practical
model of effective developmental partnership with Arab investors and reinforces
New Cairo’s position as an attractive hub for tourism, hotel, and service
investment, contributing to job creation and sustainable urban development.
The contract was signed on behalf of Horizon Egypt
Developments by Sheikh Majid bin Saeed Al Nuaimi, Chairman of Horizon Egypt
Developments, who said the project responds to Egypt’s vision of building
modern cities that compete regionally. He highlighted that investing in New
Cairo adds real value due to its strong economic fundamentals, advanced urban
planning, and promising opportunities in tourism and high-quality services. On
behalf of NUCA, Engineer Ahmed Ali Mohamed Hassan signed the contract in the
presence of the Authority’s Vice Presidents and their assistants.
The project embodies the government’s approach to
integrating economic diplomacy with sustainable urban development,
strengthening Egypt’s position as a regional hub for real estate and tourism
investment, while promoting a productive economy capable of generating added
value and ensuring financial and developmental sustainability.
This contract is part of a series of strategic initiatives
undertaken by NUCA to support the real estate, tourism, and service sectors,
enhance the competitiveness of new cities, and promote real estate exports, in
line with Egypt Vision 2030.