In the same context, Mostafa Saeed, Head of the New Qena Development Authority and Supervisor of the city of West Qena, reveals that the initiative includes 6,800 housing units, of which 5,078 are implemented, and 1,092 units are being implemented in various areas of the city.
The new suburb, Al Fursan, features 50,000 residential units and more than 190 facilities. It is surrounded by 6 mn sqm of green space.
El-Gazzar confirms that New Obour is one of the fourth-generation cities, which enjoys a privileged location, and includes a large number of housing units under the presidential initiative, Housing of All Egyptians.
The step is part of the country’s measures to confront the housing crisis.
The agreement also grants the company the right to connect its lake network to the sea through two new water channels to naturally improve the water quality in its current and future projects, which positively impacts the construction cost in the future.
Egypt participates in the event as a guest of honor represented by a high-ranking delegation led by President Abdel Fattah El-Sisi.
The allocated land will be used to build urban communities, hospitals, high institutes, schools, nurseries, clubs, bakeries, medical, commercial, administrative, residential, industrial, logistical, hotel, and recreational activities.
Real estate experts, analysts, leading executives and industry stakeholders say that tourism, visa reforms and labour reforms will continue to drive investment in the UAE’s real estate sector.
Al-Gazzar stresses the need to adhere to the deadlines set for the completion of the implementation of various projects, and to implement the various components of the projects with the highest quality suitable for NAC.
During the meeting, Ismail touches on areas of future cooperation between the drinking water and sanitation facilities sector at the Ministry of Housing, Utilities, and Urban Communities and EBRD, within the framework of the national strategy for the drinking water and sanitation facilities sector towards the transformation into a sustainable development model in line with the state’s vision.
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