Latest news with #KhaledFouda
Egypt Independent
6 days ago
- Politics
- Egypt Independent
Sharm El Sheikh designated as Egypt's first green city by ICLEI
Sharm El Sheikh has officially become Egypt's first city to be recognized as a 'Green City' by the global Local Governments for Sustainability (ICLEI) network. This significant achievement was announced by Minister of Environment Yasmine Fouad, alongside South Sinai Governor Khaled Fouda and UNDP Deputy Resident Representative Gimar Deeb. The designation marks the culmination of Sharm El Sheikh's extensive journey towards environmental sustainability, which gained momentum after Egypt hosted the UN Biodiversity Conference in 2018 and was solidified by the UN Climate Change Conference (COP27) in 2022. Guided by presidential directives, approximately 39 projects transformed the city into a comprehensive green model. Key initiatives contributing to this status include substantial investments (LE800 million) in renewable energy (51 megawatts, solar installations across hotels and remote areas), the establishment of 145 km of cycling paths and sustainable transport, and robust solid waste management systems that engage the local community, including converting used cooking oil into biodiesel. The city also focuses on water desalination in Nabq Protectorate and biodiversity preservation, including coral reef monitoring. Though Sharm El Sheikh is the inaugural Egyptian city to join the ICLEI, El-Kharga City's prior designation as a green city by the Arab League highlights Egypt's expansive dedication to sustainable development. Governor Fouda emphasized that COP27 was a critical turning point, solidifying Sharm El Sheikh's identity as a green tourism destination. The 'Green Sharm' project specifically targets energy, waste, transport, water, and biodiversity, including a ban on single-use plastics in 50 hotels by 2025/2026. This comprehensive strategy, supported by over $19.7 million in funding, aims to make Sharm El Sheikh a global model for sustainable tourism, promoting a healthy environment, a promising economy, and a responsible community. The Green Sharm Project Manager and the UNDP representative both lauded Sharm El Sheikh's inclusion, emphasizing it as a clear demonstration of Egypt's dedication to green transformation and its positive impact on the city's tourism appeal in addition to its role as a global symbol post-COP27.
CairoScene
11-02-2025
- Business
- CairoScene
Abandoned Zamalek Skyscraper Bought for EGP 2.5 Billion
Morshedy Group plans to turn the 50-foot skyscraper into a luxury residential and hospitality destination. Feb 11, 2025 Fouda Tower, an abandoned skyscraper in Zamalek, was bought out by Morshedy Group from a major state-owned bank in a EGP 2.5 billion deal. The real estate developers plan to turn the 50-story tower into a high-end residential and hospitality destination. The building, located on the south end of the island, is known as one of Egypt's first skyscrapers. The multi-billion pound deal also included a 4,000 sqm plot, which Morshedy Group plans to turn into a parking lot. Fouda Tower was originally built in the 1970s by Khaled Fouda, the original owner of the building. After several ownership disputes, the tower was eventually abandoned since its owners were not able to afford its upkeep. Real estate developers Morshedy Group have been expanding their projects around Cairo since the 1980s. One of their latest projects, Skyline, is being designed by architect Raed Fahmy in collaboration with world famous architect Mohamed Hadid, and is set to be one of the world's largest residential buildings to date.
