Latest news with #RealEstateDevelopmentandContractingCommittee
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.
Daily News Egypt
16-02-2025
- Business
- Daily News Egypt
ACUD sets EGP 55bn investment target for 2025 to drive growth, innovation
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.
