Horizon Egypt, NUCA ink EGP 15B land agreement for EGP 42B New Cairo hotel project
Updated 11/27/2025 8:31:00 AM
Arab Finance: Horizon Egypt Developments plans to launch a commercial hotel project in New Cairo, with total investments exceeding EGP 42 billion, according to a statement issued by the Ministry of Housing, Utilities, and Urban Communities.
Hence, the company signed a land allocation agreement with the New Urban Communities Authority (NUCA) at a value of EGP 15 billion.
Spanning around 28 acres, the project drives the state's efforts to bolster development and attract high-quality investments.
Implemented under the directives of Minister of Housing Sherif El-Sherbiny, the development scheme fosters high-yield investment partnerships and secures a stimulating development environment that contributes to maximizing state resources and improving asset utilization efficiency.
Ahmed Ali Mohamed Hassan, Deputy Head for Real Estate and Commercial Affairs at NUCA, highlighted that the joint project reinforces New Cairo's position as an attractive hub for tourism, hospitality, and service investments, while contributing to job creation and achieving sustainable urban development.
On his part, Majid bin Saeed bin Rashid Al-Nuaimi, Chairman of Horizon, affirmed that the project comes in response to the Egyptian state's vision of building modern cities that compete regionally.
He added that this investment in New Cairo marks a significant added value, achieves financial and developmental sustainability, in addition to promoting the tourism sector.
This development agreement is part of a series of major projects adopted by the NUCA, aimed at supporting the real estate, tourism, and services sectors, enhancing the competitiveness of new cities, and increasing real estate exports, in line with Egypt Vision 2030.
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