Egypt’s New Urban Communities Authority (NUCA) has signed a land allocation agreement with Horizon Egypt for Urban Development to launch a landmark hotel and commercial project in New Cairo, with total investments exceeding EGP 15 billion. The development will be built on a 28-feddan site and is positioned to become one of the area’s most significant new mixed-use destinations.
According to Ahmed Ali Mohamed Hassan, NUCA’s Deputy Chairman for Real Estate and Commercial Affairs, the agreement is part of the state’s strategy to maximize the economic value of investment land and channel it into projects that boost growth, job creation, and urban development. He noted that the new complex will strengthen New Cairo’s role as a premier hub for tourism, hospitality, and high-end commercial activity.
Majid bin Saeed bin Rashid Al-Nuaimi, Chairman of Horizon, emphasized that New Cairo’s modern infrastructure, well-planned urban environment, and rising demand for premium services make it one of Egypt’s most attractive long-term investment opportunities. He described the project as a strategic addition to the city’s expanding tourism and business landscape.
