Going Global to North Africa | Egypt to Accelerate Urban Expansion with a Planned Investment of $20 Billion to Build a New City

Source | Egypt Today

On June 2nd, Egypt signed a public-private partnership (PPP) agreement aimed at developing Jirian City. This is the first large-scale real estate project in the New Delta region, with the goal of creating a sustainable and comprehensive urban development project covering an area of 1,600 feddans (an Egyptian unit of area, where 1 feddan is approximately 4,200 square meters, about 6.72 million square meters) within five years. The project is located 42 kilometers west of downtown Cairo, near Sheikh Zayed City, with a total investment of approximately $20 billion.

The agreement was jointly signed by the Egyptian state-owned institution "Future of Egypt" and three leading private developers - Palm Hills Developments, Mountain View, and Nation of Sky at the launch ceremony held at the Cabinet headquarters in the new administrative capital. Egyptian Prime Minister Mustafa Madbouly attended the signing ceremony.

Prime Minister Madbouly said at a press conference that this project reflects President Sisi's vision of strengthening cooperation between the state and the experienced private sector to accelerate urban expansion and ensure the long-term development of underdeveloped areas.

This article is from the WeChat official account "Hangzhou Qiantang Enterprise Overseas Service Base". Author: Zhejiang Enterprises Going Global. Published with authorization from Qiantang.