Egypt will keep pushing for Gaza peace, aid: PM    Remittances from Egyptians abroad surge 70% YoY in July–May: CBE    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    SCZONE signs $52.6m textile industry deals during China investment tour    Egypt's current account gap narrows, but overall BoP records deficit    Al-Sisi urges accelerated oil, gas discoveries, lower import bill    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    Egypt welcomes 25-nation statement urging end to Gaza war    EGX to close Thursday for July 23 Revolution holiday    Egypt, Senegal sign pharma MoU to unify regulatory standards    Famine kills more Gaza children as Israel tightens siege amid global outrage    Kuwait's Crown Prince, Egyptian minister discuss strengthening cooperation    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Egypt's FM seeks deeper economic, security ties on five-nation West Africa tour    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



ACUD, Omani Embassy sign contract for new land plot at New Capital
Published in Daily News Egypt on 04 - 01 - 2024

The Administrative Capital for Urban Development Company (ACUD) and the Embassy of the Sultanate of Oman in Cairo signed a contract to sell a plot of land of about 4 feddan to build the new headquarters of the Omani Embassy in Cairo at the New Administrative Capital (NAC).
Abdullah bin Nasser bin Musalam Al Rahbi, the Omani Ambassador to Egypt, praised Egypt for constructing and building the NAC and the quality of life it offers for the Egyptian citizens. He said that the project represents a qualitative leap for Egypt and helps to ease congestion and reduce the burden on Cairo.
Khaled Abbas, the Chairperson and Managing Director of ACUD, expressed his happiness for having the embassy in the Diplomacy District.
He also said: "We will soon sign contracts with all the embassies of the Gulf Cooperation Council to prepare for their move to the NAC, where life has already started with the completion of all the necessary services."
The general plan for the first phase of the NAC includes the Diplomacy District, which will host all the embassies and foreign diplomatic missions in Cairo. Abbas said that it is planned to relocate all the diplomatic missions from their residences in various neighbourhoods of Cairo to the NAC.
The signing of the contract with the Omani Embassy today is a continuation of many contracts signed with other embassies and diplomatic missions, Abbas added.
The ACUD was established in April 2016 and works in the field of urban development, aiming to develop, manage, and operate the NAC project as one of the most important national and strategic projects for Egypt. It is a company subject to Investment Law No. 8/1997 with a paid-up capital of EGP 44.6bn. In 2022, the company achieved total pre-tax profits of EGP 19.8bn, and the value of its assets rose to EGP 255bn.
The construction of the new capital began at the end of 2016. Its total area is about 230,000 feddan. It is about 60 km away from Cairo in the east, and about 65 km away from Suez in the west.
The NAC is expected to accommodate up to 8.5 million people when all the construction phases are completed and to contribute to alleviating congestion in Cairo and facing rapid population growth. The NAC project is also an added value to the Egyptian economy, as it opens wide doors for investors, development companies, and others in light of the variety and diversity of investment opportunities offered by the city.
In 2023, the headquarters of the Presidency, the cabinet, ministries, agencies, and government institutions were moved. The ACUD is also working on completing the integrated construction work for services for embassies and consulates, as well as the buildings of some embassies as ready models for moving and housing in the Diplomatic District, which is one of the largest projects that the company is investing in the first phase of the NAC.


Clic here to read the story from its source.