Latest news with #JirianCity
Zawya
4 days ago
- Business
- Zawya
Egypt pens $20bln deal to launch Jirian City in Sheikh Zayed
Arab Finance: Egyptian Prime Minister Mostafa Madbouly witnessed the signing of a partnership and development agreement to launch the environmentally friendly city in Sheikh Zayed, Jirian City, with total cost and investment returns estimated at approximately EGP 1.5 trillion, the Egyptian cabinet announced on June 1st. Inked at the government headquarters in the New Administrative Capital, the agreement forms a strategic alliance between Future of Egypt and prominent real estate developers Palm Hills, Mountain View, and Nations of Sky. Covering an area of around 6.8 million square meters, the city includes more than 20,000 residential units, along with about one million square meters designated for administrative, commercial, and service activities. Facilities at the new city include shopping malls, international hotels, universities, a hospital, a media city, and world-class sports clubs. Significantly, water bodies will constitute approximately 20% of the city's layout, complemented by green spaces covering around 30%, ensuring environmental sustainability and a distinctive living environment. Jirian will also leverage three irrigation sources, including a branch of the Nile River extending from Rasheed and passing centrally through the city. Prime Minister Madbouly emphasized the significance of Jirian City, describing it as a qualitative leap in the future of smart, environmentally friendly cities and highlighting its role in advancing sustainable urban development. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
4 days ago
- Business
- Zawya
Egypt's Palm Hills unveils plans for major development in Jirian City
EGX-listed Palm Hills Developments (PHD) announced on Monday the launch of a new project in Jirian City, located along the Sheikh Zayed Axis in West Cairo. The announcement was made during the official launch of Jirian City, attended by Prime Minister Mostafa Madbouly. PHD's project, which will span 361 acres and include over 9 kilometres of Nile waterfront, will integrate residential and touristic elements, the company said in a press statement. PHD's Chairman and CEO Yasseen Mansour said the Jirian City project will include a new Palm Hills Sports Club focused on water and marine activities, with ambitions to support athletes competing at the 2028 Los Angeles Olympic Games. He added that the project aims to create around 100,000 direct and indirect jobs annually. PHD has developed 41 integrated projects across East and West Cairo, Alexandria, and the North Coast. It also has an established presence in the hospitality sector, with partnerships including The Ritz-Carlton Cairo Palm Hills and plans to add 4,000 new hotel rooms over the next five years. (Writing by Eman Hamed; Editing by Anoop Menon) (
Asharq Al-Awsat
5 days ago
- Business
- Asharq Al-Awsat
Egypt Plans Desert City Supplied with Diverted Nile Water
Egypt unveiled plans on Sunday to build a desert city that will see about 7% of Egypt's annual Nile River quota rerouted from fertile delta land to pass by upscale glass-fronted housing units and eventually a large agricultural project. Egypt, facing mounting water shortages, power constraints, and a deepening economic crisis, wants the development to help increase the value of state assets and boost land prices through "non-traditional, innovative ideas," Prime Minister Mostafa Madbouly said in a statement announcing the project. About 10 million cubic metres of Nile water will flow daily to the 6.8 million sq metre (2.63 sq mile) Jirian city, 42 km (26 miles) west of downtown Cairo, helping irrigate a 2.28 million acre New Delta agricultural project, developers said. Three private developers signed the official agreement, with the state represented by Mostakbal Misr for Sustainable Development, a military-affiliated agency. The project will include residential units, commercial zones, a yacht marina and a free economic zone.
