Sunday 07 Sep/2025 – 09:02 PM
Emirati businessman Mohammed Al -Abbar proposed the establishment of an investment fund to develop the downtown area, explaining that the establishment of the investment fund includes local, Arab and foreign investors.
Establishing an investment fund to develop the downtown area
And the Emirati businessman continued, in a special statement to Cairo 24, that the proposed fund is to be implemented fromIDowntownHe may undertake the task of developing the region, explaining that there are talks with the government to develop the region.
He pointed out that the proposal includes a board of directors of the fund by investors in it, commenting: Investors in the fund choose who manages the project.
The launch of the Red Sea Market Project with investments of 900 billion pounds
It is reported that Dr. Mustafa Madbouly, President cabinetAt the government headquarters in the new administrative capital, this evening; The signing of Emaar Misr and City Stars with the Egyptian government witnessed partnership contracts to launch its latest projects, the Red Sea Maris Red Sea, in a move that would enhance the status of the Red Sea region in Egypt as a unique tourist destination, and contribute to enhancing the potential for economic and tourism growth in Egypt with investments of 900 billion pounds.
This came in the presence of Eng. Sherif El -Sherbiny, Minister of Housing, Utilities and Urban Communities, Eng. Hassan Al -Khatib, Minister of Investment and Foreign Trade, and Major General Amir Sayed Ahmed, Advisor to His Excellency the President of the Republic for Urban Planning.
The contract was signed by Muhammad Al -Abbar, the founder of the real estate company, and the engineer Hassan Al -Sharbatly, Vice Chairman of the City Stars Group.
