In a massive press conference at Four Seasons Nile Plaza, Tatweer Misr; the Egyptian real estate developer, declared their partnership with El Mostakbal for Urban Development to build El Mostakbal City. The partnership agreement states that 325 acres will be allocated for a mixed-use residential development that would be finalized within 10 years, with approximately EGP 28 billion investment. An area of 90 acres will be also allocated for a university and a number of international schools with an investment of EGP 5 Billion. The project is planned to be launched before the second quarter of 2018.
“We express our values through what we develop” said Ahmed Shalaby Managing Director and Board Member of Tatweer Misr. “At that time, Tatweer Misr was still outlining the basic pillars of the project and looking for the right partner. Eventually we found them in El Mostakbal for Urban development who has a clear strategic vision which was the driving force behind the fast-paced achievements of infrastructure and basic works in El Mostakbal City..”
The project is a part of tatweer Misr’s series of accomplishments after Il Monte Galala in Sokhna and Fouka bay in Ras El Hikma at the North Coast. Also, their belief in the importance of entrepreneurship and education drives them to sponsor innovation awards and partner with young entrepreneurs.
“We are very happy to sign this agreement with Tatweer Misr” said Eng. Essam Nassef Chairman and Managing Director of El Mostakbal for Urban Development. “Today’s agreement marks the establishment of a mixed-use urban development, comprising a business park with various spaces, to cater to different needs, in addition to entrepreneurs’ business incubators, and an educational district, which comprises a university and international schools surrounded with green spaces.”