Egypt and UAE talk real estate

Egypt’s Minister of International Cooperation, Sahar Nasr and Minister of Housing Mostafa Madbouly met Sheikh Hamed Bin Zayed Al Nahyan, the CEO of the Abu Dhabi Investment Authority, on Thursday to present to Egypt real estate investment projects that the UAE seeks to participate in.
The projects include the New Administrative Capital, as well as housing projects in Sheikh Zayed, New El Alamein, and East Port Said.

This comes on the second day of an Egyptian delegation’s visit to the UAE, headed by the minister of International Cooperation, to follow up on the results of the recent meeting between President Abdel Fattah Al-Sisi and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed in Cairo.


Madbouly explained that New El Alamein is located on the Mediterranean Sea with an area of 50,000 acres, pointing out that the first phase of construction projects has begun for the new administrative capital, and East Port Said.

Nasr negotiated with the CEO of Abu Dhabi Investment Authority on a number of projects in the field of oil exploration, including expansion plans for the Assiut refinery plant and the Suez refinery plant.

During the meeting, they agreed on reviewing the projects and holding other meetings to identify specific projects that the UAE can participate in.