Talaat Mostafa Group (TMG) Holding has signed a memorandum of understanding (MoU) with the international telecommunication giant Huawei Technologies to provide new smart solutions in the security and privacy field, aiming to bring about the digital transformation of living in Egypt and the Middle East, Invest-Gate reports.
This one-of-a-kind deal paves the way to set an efficient development strategy that uses the latest digital technologies produced by Huawei, Hisham Talaat Mostafa, CEO of the company, said on January 10, affirming that such deals add real value to the Egyptian national economy.
This agreement will enable the application of these smart techniques in the company’s residential projects, especially in Al Rehab City and Madinaty, resulting in a better life for these areas’ residents and catching up with the integrated urban development concept, according to the statement.
In this regard, Huawei Technologies’ Regional Head of Business and Information Technology Michel Lee stressed that the tech giant is keen on collaborating with all parties, praising the binary strategic deal with TMG Holding as a part of the company’s success in the Egyptian market.
The deal includes the application of techniques like artificial intelligence, learning machines, and the internet of things (IoT) to develop smart cities in line with the latest international standards, Lee noted.
Furthermore, the two companies agreed to jointly develop TMG’s Spine project, which spans across 4 mn square meters in Madinaty, and provide the compound with the latest technologies.