Horizon Egypt completes the purchase of land for the Saada Compound in New Cairo
Horizon Egypt for Urban Development announced the successful completion of all procedures related to the purchase of the land plot designated for the "Saada Compound" project in New Cairo, in cooperation with the Land Projects Authority. This step culminates ongoing efforts between the two parties and reflects the company's commitment to supporting Egypt's national vision for sustainable urban expansion.
A boom in infrastructure is driving up market value
New Cairo has witnessed a significant surge in land prices and property market values in recent years, with estimates indicating that the market value of land in this vital area has reached record levels approaching one billion dollars. This remarkable increase is attributed to the successful economic policies of the Egyptian state and the government's tremendous efforts in developing infrastructure. The road network and main thoroughfares have undergone unprecedented development, facilitating transportation and connectivity between New Cairo, the New Administrative Capital, and the rest of Greater Cairo, making the area a major attraction for investors and real estate developers.
Boosting Emirati investments in Egypt
Horizon Egypt for Urban Development was established in 2021 and operates under the leadership of His Highness Sheikh Dr. Majid bin Saeed Al Nuaimi, Chief of the Amiri Diwan of the Emirate of Ajman and Chairman of the Board. This project is a tangible testament to the deep economic and investment ties between Egypt and the United Arab Emirates, as the company leverages a strong alliance of regional expertise and talent to compete effectively in the Egyptian market. This acquisition underscores the confidence of Arab investors in the resilience of the Egyptian economy and the promising future of the real estate sector, which is a driving force for development in the country.
The importance of the project in the context of comprehensive development
The impact of finalizing the "Saada" land deal extends far beyond the commercial sphere, encompassing broad developmental and economic dimensions. The project is expected to create thousands of direct and indirect job opportunities, in addition to revitalizing industries related to the construction sector. Furthermore, the project aligns with the state's plans for horizontal urban expansion and alleviating population density in older areas by providing integrated, fully-serviced communities that offer a high quality of life for residents.
A future vision for the real estate market
Horizon Egypt confirmed that this contract represents a significant addition to its investment portfolio and reflects its vision of executing projects that meet international standards. The company reaffirmed its commitment to continuing its investments in the Egyptian market and actively participating in projects that achieve sustainable development and support the national economy, capitalizing on the current favorable investment climate provided by the Egyptian government.
