Cairo developer eyes PPP
01 October 2016
Egypt’s El Mostakbal for Urban Development is in talks with two regional players for setting up a public-private partnership (PPP) project at its flagship mixed-use development in the capital Cairo, called Mostakbal City.
The agreement with the property firms – one of which is an European-Egyptian JV – will be for the development of two projects on a sprawling 4.2-million-sq-m area in the New Cairo district, the Amwal Alghad reported, citing a top official.
One of the largest planned mixed-use developments in the capital, Mostakbal City will come up on an area of 45 million sq m featuring several residential, retail and hospitality projects.
It will also have major business centres, medical, educational, entertainment and hospitality and commercial projects, according to its chairman Essam Nassif.
El Mostakbal is the master developer of the city, which will be developed in five phases.
Roads and green areas will represent 50 per cent of the total area of the city.
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