Egypt-UAE partnership for $3B urban project
Midar for Investment and Urban Development in Egypt has partnered with the UAE-based Majid Al Futtaim Group to develop an urban project in New Cairo valued at $3.1 billion. The project covers an area of 553 feddans and will include residential, commercial, and touristic developments. It is expected to generate revenues ranging between 200 and 250 billion Egyptian pounds (approximately $4 to $5 billion) over 15 to 20 years. The project will feature entertainment and commercial activities, including restaurants, food manufacturing plants, and clothing factories to support the development.
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