Egypt's City Edge to implement more projects

Egypt's City Edge Developments will announce new property development partnerships with real estate development companies in the coming months, the company CEO said.

City Edge is a joint venture between New Urban Communities Authority (NUCA), under the housing ministry, and the Housing & Development Bank.

"We are about to sign a partnership with a leading developer in a month and a half to execute a new mixed-use project in East of Cairo," Mohamed ElMikawi told Zawya Projects.

He didn’t further details about the project but said City Edge has contracted with global hospitality group Accor International to operate and manage two hotels in the New Administrative Capital as a part of its strategy to outsource management of state-owned assets to the private sector.

Last week, City Edge had appointed local company Counsel Masters to operate and manage Phase 1 of its Mamsha Ahl Masr project in Cairo.