New Egyptian 'city' development gets green light
19 December 2008
Abu Dhabi Municipality and Emaar Misr have agreed to develop a 2.2 million m2 city in Cairo which will provide housing for Egypt's young people, Emaar said in a statement.
According to Emaar, the agreement was signed in Abu Dhabi by Juma Mubarak Al-Junaibi, general manager for Abu Dhabi Municipality and Mohamed Ali Alabbar, chairman of Emaar Properties.
The agreement specified that Emaar Misr, under the supervision of Abu Dhabi Municipality, will manage the project development on the land provided by the Egyptian government and will find appropriate strategies to service the city in the long run.
Mr Al-Junaibi said in the statement, "The grant of US$ 100 million by His Highness Sheikh Khalifa to construct this social project highlights the strong relations and co-operation that exists between the UAE and Egypt and the wise leadership of the two countries to work towards socio-economic growth."
He added with 70 to 90 m2 houses being planned, the city can have the largest possible number of residential units in the given area.
"The project will also create several job opportunities in line with the socio-economic growth objectives of Egypt," he said.
Sheikh Khalifa Bin Zayed City is being developed in association with the Egyptian Ministry of Housing, Utilities and Urban Development, and will adhere to the developmental norms set by the Egyptian government. The Ministry will allot the appropriate land for the project and provide necessary approvals needed to develop the project.
According to the statement, the city is envisaged as a fully integrated development featuring modern infrastructure including roads, power and telecom connectivity, healthcare centres, educational institutes, retail outlets, places of worship and community centres.
Abu Dhabi Municipality received the allotted land for Sheikh Khalifa Bin Zayed City in New Cairo on the Cairo-Suez Road, next to Al Rehab City earlier this year and will start the first phase of design after the Egyptian authorities finalise the levelling of the land.
