Qatari Diar Real Estate Investment Company has announced the start of implementation of the first phase of the CityGate project in Egypt at a value of 1bn Egyptian pounds.
This was announced at a ceremony held at the project site in New Cairo, which is located 30km southeast of Cairo, and 30 minutes from Cairo International Airport, in the presence of ambassador of the State of Qatar to Egypt Salem Mubarak al-Shafi; Egypt's Deputy Minister of Housing for National Projects Eng Khaled Abbas; CEO of Qatari Diar Eng Abdullah bin Hamad al-Attiyah; director of Development and Projects Department for Egypt, Sudan and Eritrea at Qatari Diar Sheikh Hamad bin Talal al-Thani, and a number of dignitaries.
The event saw the signing of a contract between Bawabat Al-Sharq New Cairo Real Estate Investment, one of the Qatari Diar companies in Egypt, and the Consolidated Contractors Company (CCC) to implement the first phase of the project.
In a speech on the occasion, Eng Abbas expressed pleasure with signing the contract and laying the foundation stone for the first phase of the CityGate project, looking forward to start the second and third phases of the project soon.
He noted that the CityGate site has become more distinguished than before, expressing the hope that the pace of implementation of the phases will accelerate so the project be attached to the Administrative Capital.
He pledged to support the project and overcome any obstacles it faces, noting that Qatari Diar is one of the largest and most distinguished companies.
For his part, Eng al-Attiyah stressed the company's commitment to contributing to advancing the local economy and developing the labour market since it entered the Egyptian market in 2006.
He noted that the project implemented by Qatari Diar provided a large number of job opportunities in the local community, whether during the implementation stages or the operating stages.
He added that CityGate is expected to provide nearly 200,000 jobs in the local labour market during the period of its implementation, in addition to the job opportunities that it will provide after the implementation of the project.
He explained that Qatari Diar is in the process of announcing its development and investment plans and strategic partnerships on all of the land lots it owns in Egypt before the end of the year, noting that the company's investments in the Egyptian market have exceeded $3bn, distributed over a number of projects that cover an area of 40mn square metres.
He added that CityGate project represents one of the great additions to the company's investments in Egypt, as its value will reach about $12bn, in addition to the rest of the development plans.
This was announced at a ceremony held at the project site in New Cairo, which is located 30km southeast of Cairo, and 30 minutes from Cairo International Airport, in the presence of ambassador of the State of Qatar to Egypt Salem Mubarak al-Shafi; Egypt's Deputy Minister of Housing for National Projects Eng Khaled Abbas; CEO of Qatari Diar Eng Abdullah bin Hamad al-Attiyah; director of Development and Projects Department for Egypt, Sudan and Eritrea at Qatari Diar Sheikh Hamad bin Talal al-Thani, and a number of dignitaries.
The event saw the signing of a contract between Bawabat Al-Sharq New Cairo Real Estate Investment, one of the Qatari Diar companies in Egypt, and the Consolidated Contractors Company (CCC) to implement the first phase of the project.
In a speech on the occasion, Eng Abbas expressed pleasure with signing the contract and laying the foundation stone for the first phase of the CityGate project, looking forward to start the second and third phases of the project soon.
He noted that the CityGate site has become more distinguished than before, expressing the hope that the pace of implementation of the phases will accelerate so the project be attached to the Administrative Capital.
He pledged to support the project and overcome any obstacles it faces, noting that Qatari Diar is one of the largest and most distinguished companies.
For his part, Eng al-Attiyah stressed the company's commitment to contributing to advancing the local economy and developing the labour market since it entered the Egyptian market in 2006.
He noted that the project implemented by Qatari Diar provided a large number of job opportunities in the local community, whether during the implementation stages or the operating stages.
He added that CityGate is expected to provide nearly 200,000 jobs in the local labour market during the period of its implementation, in addition to the job opportunities that it will provide after the implementation of the project.
He explained that Qatari Diar is in the process of announcing its development and investment plans and strategic partnerships on all of the land lots it owns in Egypt before the end of the year, noting that the company's investments in the Egyptian market have exceeded $3bn, distributed over a number of projects that cover an area of 40mn square metres.
He added that CityGate project represents one of the great additions to the company's investments in Egypt, as its value will reach about $12bn, in addition to the rest of the development plans.
