Latest news with #NUCA
Zawya
02-06-2025
- Business
- Zawya
Egypt, China ink integrated operation, maintenance agreement for CBD in New Capital
Arab Finance: The New Urban Communities Authority (NUCA) and an Egyptian-Chinese alliance represented by Horizon Management Company have signed an integrated operation and maintenance agreement for the Central Business District (CBD) in Egypt's New Administrative Capital, as per a statement. Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny described the agreement as a major step in the modernization of public utility management in Egypt. He said the new model, known as Cost + Margin, strikes a balance between maintaining service quality and ensuring operational sustainability, while preserving state oversight through budget approvals and performance reviews. The agreement covers the management and maintenance of core infrastructure including electricity and water networks, fire systems, and other critical utilities. It also extends to public cleaning, security and safety services, green space upkeep, and environmental monitoring. El-Sherbiny noted that the agreement mandates full compliance with technical specifications and legal standards by all service providers. It includes a system of financial and technical oversight, regular performance monitoring, budget reviews, and the preparation of detailed evaluation reports submitted to the NUCA. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Daily News Egypt
02-06-2025
- Business
- Daily News Egypt
Madbouly witnesses alliance signing between Arab Contractors, China's CSCEC
Prime Minister Mostafa Madbouly witnessed the signing of a cooperation protocol between Egypt's Arab Contractors Company and China State Construction Engineering Corporation (CSCEC), establishing a strategic alliance to implement major projects in Egypt and across the African continent. The agreement was signed by Hassan Mostafa Kamel, Senior Vice Chairperson of Arab Contractors, and CSCEC Chairperson Zheng Xuexuan. The ceremony was attended by Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities; Dong Jian Guo, China's Vice Minister of Housing and Urban-Rural Development; Abdel Khalek Ibrahim, Assistant Minister of Housing for Technical Affairs; Hesham Sheta, Chairperson of INCOME (CSCEC's representative in Egypt); and Heba Abou El-Ala, Vice Chairperson of Arab Contractors. Following the signing, Prime Minister Madbouly affirmed that the protocol reflects deepening strategic ties between Egypt and China, highlighting expanding bilateral cooperation across various sectors. He emphasized that the current momentum in Egyptian-Chinese relations provides a strong foundation for advancing joint initiatives and shared interests. Housing Minister Sherif El-Sherbiny described the agreement as a key outcome of Egypt's recent high-level visit to China, which included extensive meetings with Chinese officials. During the visit, the proposed collaboration between CSCEC—one of the world's largest construction firms—and Arab Contractors—Egypt's leading state-owned construction company—was advanced to capitalize on their shared expertise and regional reach. In a related development, Prime Minister Madbouly also attended the signing of a comprehensive operation and maintenance agreement for the Central Business District (CBD) in Egypt's New Administrative Capital. The agreement, signed between the New Urban Communities Authority (NUCA) and an Egyptian-Chinese alliance represented by Horizon Management and Operations Company, aims to ensure world-class service delivery and infrastructure sustainability. The agreement was signed by Amin Ghoniem, NUCA Vice President for Real Estate Affairs, and Qi Zhang, Managing Director of Horizon Management and Operations Company. Minister El-Sherbiny explained that the agreement introduces a modern 'Cost + Margin' management model—balancing service quality with operational sustainability. It enables the state to maintain full oversight through budget controls and regular reviews of technical and financial performance. The agreement covers the maintenance and operation of critical infrastructure such as electricity and water networks, fire safety systems, and other essential facilities. It also includes cleaning, security, landscaping, and environmental monitoring services. All operations will adhere to strict technical specifications and legal standards, with ongoing performance monitoring and financial oversight. El-Sherbiny noted that this approach reflects a shift toward integrated, high-efficiency urban management aligned with Egypt's vision for modern, sustainable cities. He stressed that the agreement sets a new benchmark for managing public utilities, protecting state investments, and delivering services that meet the expectations of residents, visitors, and investors in the CBD. He added that the contract underwent rigorous institutional review, overseen by a ministerial committee tasked with ensuring full compliance with legal and technical standards throughout the pre-contract and implementation phases. 'This marks a pilot model for smart, integrated urban management that we aim to replicate across the New Administrative Capital and other new cities,' El-Sherbiny concluded. 'It represents a shift from traditional service models to sustainable frameworks based on performance, accountability, and governance.'
Daily News Egypt
14-04-2025
- Business
- Daily News Egypt
Egypt, Saudi Arabia to launch joint real estate fund with diverse portfolio: Housing Minister
Egypt's Minister of Housing, Utilities, and Urban Communities, Sherif El-Sherbiny, has announced plans to establish a joint Egyptian-Saudi real estate investment fund. The fund will feature a diversified portfolio of land assets and investment opportunities, aiming to drive development across strategic locations in Egypt. The initiative, which will fall under the supervision of the New Urban Communities Authority (NUCA) and the Tourism Development Authority, is part of broader efforts to deepen Egyptian-Saudi cooperation in the real estate sector and attract fresh capital into key development projects. El-Sherbiny made the announcement during a panel discussion held with representatives from the Saudi Chambers of Commerce and the Saudi-Egyptian Business Council, highlighting it as a milestone in advancing bilateral investment relations. A dedicated unit will be set up within NUCA to monitor joint projects with Saudi partners, as well as other Saudi investments on NUCA-administered lands. This unit will be tasked with ensuring project efficiency, streamlining oversight, and supporting sustainable growth in the sector. El-Sherbiny also pointed to Egypt's evolving urban development model under President Abdel Fattah El-Sisi's leadership, noting that the past decade has seen a dramatic transformation in the country's urban landscape. He outlined a broad spectrum of investment opportunities across Egypt's expanding network of cities—particularly the fourth-generation urban centers such as the New Administrative Capital, New Alamein, and New Mansoura—as well as prospects in earlier generations of new cities and major tourism zones. Reaffirming the ministry's commitment to facilitating investment, El-Sherbiny encouraged both Egyptian and Saudi developers to expand their involvement. He expressed personal readiness to address any challenges investors may encounter, pledging to expedite solutions to ensure the success of incoming projects. Reflecting on his recent participation in Cityscape Global in Riyadh, El-Sherbiny praised the vibrant atmosphere among exhibitors and investors in Saudi Arabia and emphasized the potential for expanding real estate investment collaboration between the two nations. He concluded by emphasizing that enhanced Egyptian-Saudi cooperation in real estate could pave the way for valuable exchanges of expertise and best practices. Harnessing the combined strengths of both countries, he said, holds the promise of delivering impactful, sustainable development that benefits both economies.
Zawya
07-04-2025
- Business
- Zawya
Egypt's minister reviews progress of Marina 8, New Marina developments in North Coast
Egypt - Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, conducted a comprehensive review of ongoing development projects in New Alamein City and across the North West Coast, as part of the government's broader strategy to accelerate infrastructure and urban expansion along Egypt's Mediterranean shoreline. The review was carried out in coordination with the New Urban Communities Authority (NUCA) and its affiliated agencies. Among the focal points was the progress in New Ras El Hekma City, as well as the broader stretch between West Ras El Hekma, Samala, and Alam El Roum, including plans for a new urban center west of Dabaa and a series of coastal resort developments. During the briefing, El-Sherbiny received detailed updates on the first phase of New Ras El Hekma, including land handovers, infrastructure works, and ongoing construction. The presentation covered progress on potable water systems, irrigation networks, and the development of facilities such as hotels and administrative offices. Discussions also addressed roadworks and utility implementation in the Shams El Hekma area, which is undergoing rapid development, including essential infrastructure such as sewage, electricity, and water systems. According to the project's master plan, this area will integrate residential zones, service facilities, and commercial and investment districts. Land has also been allocated to existing residents in Ras El Hekma to ensure a smooth and inclusive urban transition. The Housing Minister also examined the latest developments in the urban expansion project west of Dabaa, which is under NUCA's jurisdiction. Updates included the allocation of alternative plots for existing residents, compensation frameworks, the area's master plan, and the rollout of critical infrastructure such as potable water, wastewater networks, roads, power supply, and service buildings. The site is being developed as a fully integrated community, designed to serve both local populations and regional investors with access to the coastal highway. Progress on major tourism and real estate projects was also reviewed, with a particular focus on Marina 8—a flagship tourist village spanning 179 feddans. The development features a blend of chalets and villas, distributed across 243 buildings totaling 917 residential units. El-Sherbiny was briefed on delivery timelines, the status of utility installations (water, sewage, irrigation, roads), and ongoing electrical works. The site also includes a cultural and service hub featuring a theater, cafeteria, administrative buildings, and associated infrastructure. Attention was also given to the New Marina lake project, which incorporates an underwater tunnel, lake systems, pump stations, and pipeline networks, aimed at enhancing the tourism appeal and livability of the area. The review included the New Marina Lagoon project, as well as the 'M8 by the Lake' development, which comprises 1,183 units of villas and apartment buildings. Additional updates covered current offerings, sales performance, and upgrade plans for the Marina Alamein Tourism Center. The Minister emphasized the importance of setting clear timelines for project completion and called for consistent on-ground monitoring to ensure quality and pace of execution. El-Sherbiny also inspected progress in New Alamein City, including the delivery and construction timelines of several residential and mixed-use projects such as Mazarine Compound, the Latin District, beach tower phases one and two, Downtown towers, and Housing for All Egyptians units. He reviewed the operational readiness of public service projects and retail components, and directed that units be delivered on schedule with full utility services, including meter installations. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. ( Daily News Egypt
Zawya
17-02-2025
- Business
- Zawya
Arkan Palm, CIB partner to develop 16,000 sqm headquarters in Sheikh Zayed's Financial District
Egypt - Arkan Palm for Real Estate Development, a subsidiary of Badr El Din Group, has signed an agreement with Commercial International Bank (CIB) to allocate 16,000 square meters in the Financial District of Project 205 in Sheikh Zayed for the bank's new headquarters. The signing ceremony was attended by Walid Abbas, First Vice President of the New Urban Communities Authority (NUCA); Amr El Ganainy, CIB's Executive Vice President and Board Member; Mamdouh Badr El Din, Chairman of Badr El Din Companies; and Amr Badr El Din, Managing Director of Arkan Palm. Project 205: A Landmark Development in West Cairo Project 205 is a strategic partnership between NUCA and Arkan Palm, spanning 205 feddans in Sheikh Zayed. Designed as a fully integrated urban development, it features residential, commercial, administrative, hospitality, and entertainment components. Walid Abbas highlighted Project 205 as a successful public-private collaboration, delivering high-value real estate offerings that enhance the market. He reaffirmed NUCA's commitment to partnering with experienced developers like Arkan Palm to ensure high-quality projects. CIB's Strategic Expansion in Project 205 Amr El Ganainy expressed CIB's enthusiasm for securing a prime location within Project 205—one of West Cairo's most prestigious developments. He emphasized that CIB prioritizes exceptional locations for expansion, and Arkan Palm's reputation for quality and reliability played a significant role in the bank's decision to establish its headquarters there. A Vision for an Integrated Financial Hub Mamdouh Badr El Din described Project 205 as an innovative addition to Egypt's real estate market, offering a holistic lifestyle beyond residential spaces—including banks, clinics, corporate offices, and entertainment zones. He emphasized the project's focus on quality, integration, and sustainability. Amr Badr El Din reaffirmed Arkan Palm's commitment to partnering with leading institutions to deliver top-tier services within West Cairo's largest downtown. He confirmed that CIB's headquarters will be part of a growing cluster of major financial institutions in Project 205's Financial District, which is set to become the region's premier hub for banking and financial services.
