Latest news with #AdministrativeCapitalforUrbanDevelopment
Daily News Egypt
16-03-2025
- Business
- Daily News Egypt
ACUD showcases Egypt's smart capital at MIPIM 2025 in France for third consecutive year
The Administrative Capital for Urban Development (ACUD), the master developer of Egypt's New Administrative Capital, is participating in MIPIM 2025—the world's leading real estate exhibition—held in Cannes, France, from 11 to 14 March. This marks ACUD's third consecutive appearance at the prestigious event, following two highly successful showings. The Egyptian pavilion at MIPIM 2025 has drawn significant attention from global investors, developers, and entrepreneurs. Among the key engagements was a high-level meeting between Khaled Abbas, Chairperson and Managing Director of ACUD, and Khalfan bin Said Al Shueili, Oman's Minister of Housing and Urban Development. During the meeting, Abbas provided updates on the latest developments in the New Administrative Capital, highlighting major infrastructure projects and investment opportunities. He also explored potential avenues for Omani investors and the broader prospects of exporting Egyptian real estate to Arab markets. 'MIPIM is one of the largest and most influential real estate exhibitions worldwide, attracting top-tier investors and developers. ACUD is proud to showcase its success in building a smart, green, and sustainable city while strengthening global partnerships,' said Abbas. MIPIM is a premier international real estate event, bringing together more than 6,500 investors and 300 global companies from over 90 countries. It serves as a vital platform for industry leaders to connect, exchange insights, and explore opportunities in urban development and real estate investment.
Zawya
10-03-2025
- Business
- Zawya
Egypt: ACUD, Côte d'Ivoire Embassy sign agreement for new headquarters in New Capital
Egypt - The Administrative Capital for Urban Development (ACUD) and the Embassy of the Republic of Côte d'Ivoire in Cairo have signed a land sale agreement for a 5,000-square-meter plot, where the new embassy headquarters and the ambassador's residence will be constructed in the Diplomatic District of the New Administrative Capital (NAC). The agreement was signed by Khaled Abbas, Chairperson and Managing Director of ACUD, and Albert G. Dole, Côte d'Ivoire's Ambassador to Egypt, in the presence of representatives from both parties. Ambassador Dole expressed his satisfaction with the embassy's relocation, stating, 'We are delighted to be in the NAC, following the directives of the Ivorian President. This move is a testament to the strong ties between our two nations. We also extend our gratitude to ACUD for facilitating the contract signing in record time.' He highlighted that the NAC represents a significant leap in urban development, with its advanced infrastructure, modern transportation networks, expansive green spaces, and high-quality living standards. He further emphasized the importance of establishing the embassy in the Diplomatic District, given its distinguished design and suitability for diplomatic work. For his part, Abbas welcomed the agreement, expressing his appreciation to the Ambassador of Côte d'Ivoire. 'We are pleased to sign this agreement, paving the way for the embassy's relocation to the Diplomatic District in the New Administrative Capital. The presence of Côte d'Ivoire's embassy is a valuable addition to the district,' he stated. He further noted that the number of embassies relocating to the NAC is steadily increasing, reinforcing the development of one of the world's most sophisticated diplomatic districts. The master plan for the first phase of the New Administrative Capital includes the Diplomatic District, designated to host all foreign embassies and diplomatic missions currently scattered across Cairo. The relocation initiative aims to create a centralized and state-of-the-art diplomatic hub, enhancing the capital's role as a global and regional diplomatic center. This agreement with the Embassy of Côte d'Ivoire continues ACUD's efforts to attract diplomatic missions to the New Capital. It follows a series of similar agreements, including the most recent signing with the Embassy of Algeria in Cairo.
Daily News Egypt
10-03-2025
- Business
- Daily News Egypt
ACUD, Côte d'Ivoire Embassy sign agreement for new headquarters in New Capital
The Administrative Capital for Urban Development (ACUD) and the Embassy of the Republic of Côte d'Ivoire in Cairo have signed a land sale agreement for a 5,000-square-meter plot, where the new embassy headquarters and the ambassador's residence will be constructed in the Diplomatic District of the New Administrative Capital (NAC). The agreement was signed by Khaled Abbas, Chairperson and Managing Director of ACUD, and Albert G. Dole, Côte d'Ivoire's Ambassador to Egypt, in the presence of representatives from both parties. Ambassador Dole expressed his satisfaction with the embassy's relocation, stating, 'We are delighted to be in the NAC, following the directives of the Ivorian President. This move is a testament to the strong ties between our two nations. We also extend our gratitude to ACUD for facilitating the contract signing in record time.' He highlighted that the NAC represents a significant leap in urban development, with its advanced infrastructure, modern transportation networks, expansive green spaces, and high-quality living standards. He further emphasized the importance of establishing the embassy in the Diplomatic District, given its distinguished design and suitability for diplomatic work. For his part, Abbas welcomed the agreement, expressing his appreciation to the Ambassador of Côte d'Ivoire. 'We are pleased to sign this agreement, paving the way for the embassy's relocation to the Diplomatic District in the New Administrative Capital. The presence of Côte d'Ivoire's embassy is a valuable addition to the district,' he stated. He further noted that the number of embassies relocating to the NAC is steadily increasing, reinforcing the development of one of the world's most sophisticated diplomatic districts. The master plan for the first phase of the New Administrative Capital includes the Diplomatic District, designated to host all foreign embassies and diplomatic missions currently scattered across Cairo. The relocation initiative aims to create a centralized and state-of-the-art diplomatic hub, enhancing the capital's role as a global and regional diplomatic center. This agreement with the Embassy of Côte d'Ivoire continues ACUD's efforts to attract diplomatic missions to the New Capital. It follows a series of similar agreements, including the most recent signing with the Embassy of Algeria in Cairo.
Zawya
03-03-2025
- Business
- Zawya
ACUD, Algerian Embassy sign deal for new diplomatic headquarters in Egypt's New Capital
Egypt - The Administrative Capital for Urban Development (ACUD) and the Embassy of Algeria in Cairo have signed a land sale agreement for two plots totaling 23,316 sqm. The land will be used for the construction of the new embassy headquarters and the ambassador's residence in the Diplomatic District of the New Administrative Capital. The agreement was signed by Khaled Abbas, Chairperson and Managing Director of ACUD, and Mohamed Sofiane Berrah, Ambassador of Algeria to Egypt and its Permanent Representative to the Arab League, in the presence of senior company officials. Berrah stated: 'The project represents a transformative step for Egypt, helping to ease congestion, enhance services, and reduce the burden on Cairo.' He further emphasized, 'The relocation of the Algerian Embassy to the New Administrative Capital aligns with the directives of the leadership in both brotherly nations. I extend my gratitude to ACUD for their support in finalizing this agreement.' Abbas commented: 'I would like to thank the esteemed Algerian Ambassador in Cairo. We are pleased to sign this agreement as a step towards relocating the embassy to the Diplomatic District of the New Administrative Capital. The presence of Algeria's embassy will further enrich the diplomatic hub of the city.' The master plan for the first phase of the New Administrative Capital includes the Diplomatic District, which will host all foreign embassies and diplomatic missions currently located in various districts of Cairo. The agreement with the Algerian Embassy marks another step in the ongoing relocation of embassies and diplomatic missions to the New Administrative Capital. The relocation of these missions is part of a broader plan to establish the New Administrative Capital as Egypt's primary diplomatic hub. Today's signing of the agreement with the Algerian Embassy continues a series of similar agreements already concluded with other embassies and diplomatic missions.
Zawya
17-02-2025
- Business
- Zawya
Egypt's ACUD sets $1.08bln investment target for 2025 to drive growth, innovation
Egypt - The Administrative Capital for Urban Development (ACUD) has announced an ambitious investment target of EGP 55bn for 2025, aiming to accelerate major projects, enhance infrastructure, and expand smart services in Egypt's New Administrative Capital. Khaled Abbas, Chairperson of ACUD, emphasized the company's ongoing growth across multiple sectors, highlighting that the new investments will prioritize the completion of residential and commercial developments, the expansion of service areas, and the enhancement of smart infrastructure and essential utilities. As part of its broader strategy, ACUD has also launched a new initiative to support and sponsor startups offering innovative real estate solutions. This initiative, part of the company's corporate social responsibility program, aims to foster a dynamic business environment and enhance real estate services. The announcement was made during a meeting of the Real Estate Development and Contracting Committee at the Egyptian Businessmen's Association. In 2024, ACUD recorded EGP 27bn in profits, bringing its cumulative earnings since inception to EGP 55bn. Established in April 2016, ACUD is an Egyptian joint-stock company responsible for developing and managing the New Administrative Capital, a landmark national project. Governed by Investment Law No. 8 of 1997, the company has a paid-in capital of EGP 44.6bn and reported pre-tax profits of EGP 19.8bn in 2022, with total assets reaching EGP 255bn. Located 60 km east of Cairo, the 230,000-feddan New Administrative Capital is designed to accommodate 8.5 million residents, alleviating congestion in Cairo while boosting investment opportunities. As Egypt's first fourth-generation smart city, the capital integrates cutting-edge technology, with ACUD collaborating with global firms to enhance sustainability and smart infrastructure.
