Latest news with #UrbanDevelopmentFund
Egypt Today
13 hours ago
- Business
- Egypt Today
UN-Habitat representative: Egypt's national projects are 'breakthrough' in improving citizen's quality of life
Haya Karima village - file CAIRO - 16 June 2025: Ahmed Rizk, UN-Habitat Representative, praised the Egyptian government's focus on national projects, which represent a breakthrough that directly impacts citizens' quality of life in various areas, including new cities and infrastructure projects in transportation and energy. Ahmed Rizk, UN-Habitat Representative in Egypt, noted that today's conference, titled "Innovation for Impact: Enhancing Business Commitment to Sustainable Development," aims to bring together all stakeholders and integrate development partners across all sectors, including the private sector, relevant government agencies, the banking sector, civil society organizations, and international organizations. Engineer Khaled Seddik, Chairman of the Urban Development Fund, also emphasized the importance of the Fund's role in supporting sustainable urban development efforts. Ahmed Rizk, UN-Habitat Representative in Egypt, emphasized that Monday's workshops will address several important topics, including urban and sustainable mobility and climate issues. He highlighted the importance of the World Urban Forum held in Cairo and its success in reaching outcomes that addressed city competitiveness and productivity, as well as issues related to the integration of youth and women, and safe cities, which impact quality of life. Ahmed Rizk, UN-Habitat representative, called for taking advantage of today's workshops, which bring together a group of officials from various sectors, to forge partnerships and programs that contribute to supporting sustainable urban development across all sectors.
Daily News Egypt
18-05-2025
- Business
- Daily News Egypt
PM reviews development progress for former Imbaba airport, Aziz Ezzat area
Egyptian Prime Minister Mostafa Madbouly chaired a meeting on Sunday to follow up on the implementation of redevelopment plans for the former Imbaba Airport site and the Aziz Ezzat area in Giza. The meeting was attended by Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny; Giza Governor Adel El-Naggar; Chairperson of the Urban Development Fund Khaled Siddiq; and senior officials from relevant government bodies. At the start of the meeting, the Prime Minister underscored the importance of adopting a comprehensive and integrated approach to upgrading unplanned urban areas. He emphasized the need to improve service quality, diversify amenities, and make better use of public parks, all in alignment with Egypt's broader urban development strategy. Minister Sherif El-Sherbiny presented an update on the Imbaba Airport redevelopment project, noting that rehabilitation is underway for 117 residential buildings. To date, external façades of 93 buildings have been refurbished—an 80% completion rate. Drainage and water testing, along with defect repairs, have been finalized in 100 buildings, representing 85.5% completion. Full renovations have been completed in 37 buildings, and electricity services have been activated in 18. The Minister also highlighted the investment potential linked to the project. El-Sherbiny further discussed plans for 'Giza Park,' emphasizing the goal of maximizing the value of its prime location. Proposals include enhancing visitor services, transforming an adjacent building into a cultural center, upgrading infrastructure and green spaces, and allocating space for seasonal exhibitions to support government programs for productive families. Khaled Siddiq, Chairperson of the Urban Development Fund, provided an overview of efforts to redevelop the Kitkat district, which spans 351 feddans, including the 42-feddan Aziz Ezzat housing area. He described the Kitkat area as an unplanned district comprising public housing, educational, and industrial facilities in urgent need of comprehensive re-planning. Siddiq confirmed ongoing coordination with the Giza Governorate to develop an operational framework for the area's redesign. Governor Adel El-Naggar also reviewed the governorate's coordinated efforts with relevant authorities to advance the redevelopment of both the Imbaba Airport site and the Aziz Ezzat area.
Zawya
07-04-2025
- Business
- Zawya
Egypt to offer ‘Ministries Square' to private sector investors
Egyptian Prime Minister Mostafa Madbouly chaired a meeting to review the steps and procedures for maximising the benefits of the 'Ministries Square' area and offering it to the private sector, the cabinet said on Sunday. The meeting was attended by Minister of Investment and Foreign Trade Hassan El-Khatib, businessman and member of the Advisory Committee for the Development of Egyptian Tourism Hisham Talaat Moustafa, Vice Chairperson of the Board of Directors of the Urban Development Fund Baher El-Shaarawi, Assistant Minister of Investment Ghada Nour, Vice Chairperson of the Board of Directors of the Urban Development Fund Mostafa Abdel-Wahab, and Acting CEO of the Sovereign Fund Noha Khalil. Madbouly began the meeting by referring to the efforts being made to expedite the offering of the 'Ministries Square' area to the private sector, particularly for tourism purposes. He noted the tasks assigned to the Ministry of Investment in this regard and acknowledged Hisham Talaat Moustafa's ideas and proposals, given his membership on the Advisory Committee for the Development of Egyptian Tourism, which could contribute to maximising the benefits of this area. During the meeting, El-Khatib pointed out the ongoing efforts to maximise the return on investment from the 'Ministries Square' area and the Sovereign Fund's assets in general. He affirmed the continuous communication with various investors in different sectors. The Minister of Investment reviewed the measures taken by the ministry, represented by the Sovereign Fund of Egypt, to maximise the utilisation of several state-owned assets. 'We are currently gathering ideas and visions from various specialists regarding the development of the 'Ministries Square' area, as well as utilising the downtown area in general, while preserving its architectural character and cultural value,' the Minister added. Hisham Talaat Moustafa presented several ideas for developing the 'Ministries Square' area to maximise its benefits and generate greater revenues for the Egyptian government. He emphasised the need for a clear and integrated vision for the planning and uses of this area, which would meet the government's desire to increase the number of hotel rooms in the downtown area. He noted the increased tourist interest in the area and the need to consider decisions that would make it more attractive to tourists and major hotel investors. Madbouly responded by confirming that urban planning studies had been previously prepared for the optimal use of the downtown area. These studies will be used in the preparation of the offering memorandum. At the conclusion of the meeting, the Prime Minister instructed a working group from the relevant ministries and authorities to finalise the offering memorandum, ensuring that it provides clear answers to all questions from private sector investors.
Daily News Egypt
06-04-2025
- Business
- Daily News Egypt
Egypt to offer ‘Ministries Square' to private sector investors
Egyptian Prime Minister Mostafa Madbouly chaired a meeting to review the steps and procedures for maximising the benefits of the 'Ministries Square' area and offering it to the private sector, the cabinet said on Sunday. The meeting was attended by Minister of Investment and Foreign Trade Hassan El-Khatib, businessman and member of the Advisory Committee for the Development of Egyptian Tourism Hisham Talaat Moustafa, Vice Chairperson of the Board of Directors of the Urban Development Fund Baher El-Shaarawi, Assistant Minister of Investment Ghada Nour, Vice Chairperson of the Board of Directors of the Urban Development Fund Mostafa Abdel-Wahab, and Acting CEO of the Sovereign Fund Noha Khalil. Madbouly began the meeting by referring to the efforts being made to expedite the offering of the 'Ministries Square' area to the private sector, particularly for tourism purposes. He noted the tasks assigned to the Ministry of Investment in this regard and acknowledged Hisham Talaat Moustafa's ideas and proposals, given his membership on the Advisory Committee for the Development of Egyptian Tourism, which could contribute to maximising the benefits of this area. During the meeting, El-Khatib pointed out the ongoing efforts to maximise the return on investment from the 'Ministries Square' area and the Sovereign Fund's assets in general. He affirmed the continuous communication with various investors in different sectors. The Minister of Investment reviewed the measures taken by the ministry, represented by the Sovereign Fund of Egypt, to maximise the utilisation of several state-owned assets. 'We are currently gathering ideas and visions from various specialists regarding the development of the 'Ministries Square' area, as well as utilising the downtown area in general, while preserving its architectural character and cultural value,' the Minister added. Hisham Talaat Moustafa presented several ideas for developing the 'Ministries Square' area to maximise its benefits and generate greater revenues for the Egyptian government. He emphasised the need for a clear and integrated vision for the planning and uses of this area, which would meet the government's desire to increase the number of hotel rooms in the downtown area. He noted the increased tourist interest in the area and the need to consider decisions that would make it more attractive to tourists and major hotel investors. Madbouly responded by confirming that urban planning studies had been previously prepared for the optimal use of the downtown area. These studies will be used in the preparation of the offering memorandum. At the conclusion of the meeting, the Prime Minister instructed a working group from the relevant ministries and authorities to finalise the offering memorandum, ensuring that it provides clear answers to all questions from private sector investors.
Zawya
30-01-2025
- Business
- Zawya
Egypt: Urban Development Fund to deliver first phase of 'Darah' in early 2025
Egypt - The Urban Development Fund (UDF) has announced that the first phase of its flagship 'Darah' project will be delivered in the first half of 2025. This phase includes 5,000 housing units across multiple governorates, with infrastructure and utility installations already completed. The project, valued at over EGP 72 billion, aims to provide integrated communities with residential, educational, and healthcare facilities. Spanning 1,400 acres across 13 governorates, 'Darah' is part of UDF's broader efforts to advance urban development in line with Egypt's Vision 2030. The second phase of the project will expand into five additional governorates, offering competitively priced housing solutions. Chairman Eng. Khaled Saddik highlighted UDF's success in real estate, with sales reaching EGP 20 billion in 2024, doubling expectations. He noted strong demand for gated communities in governorates like Sohag, Mansoura, and Kafr El-Sheikh. Beyond 'Darah,' UDF is advancing key projects, including Fustat Gardens, a 500-acre park in Cairo, and the regeneration of Historic Cairo, a UNESCO-listed site. The fund is also evaluating investment opportunities worth EGP 29 billion, including mixed-use developments in Kafr El-Sheikh and El Mahalla El Kubra. UDF's expertise has gained international recognition, with Saudi Arabia seeking its support in regenerating urban areas. The fund's expansion into global markets, including Italy, positions Egypt as a competitive real estate investment destination. As Egypt's largest real estate developer, UDF remains committed to sustainable urban development and improving citizens' quality of life. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
