El Mostakbal for Urban Development, the owner and master developer of the Mostakbal City project in New Cairo, inked a new contract with both Al-Rabwa Developments and Al-Rabwa Project Management Company to develop an LE10b-integrated project in the first phase in Mostakbal City, a senior company official said.
Essam Nassef, Chairman and Managing Director of El Mostakbal Urban Development, added that the contract is a part of the company strategy to develop service projects.
He also commended the Al-Rabwa’s efforts in operating the international school complex in the first phase in the city.
Gaafar Hussein, Chairman of Al-Rabwa Developments, revealed out that the first phase of Mostakbal City includes many integrated activities, including in the foremost commercial, administrative, hotel, entertainment activities, and a mosque; all cover about 47 acres in the regional services area.
He further noted that the project also includes a 300-room hotel and 600 hotel apartments, adding that an international management company will be contracted to manage such rooms.
Featuring an administrative and medical complex as well as a commercial mall, the project also includes international brands and restaurants, and that negotiation is on for contracting with a specialized company to manage these brands, he said.
This co-operation, he added, is an addition to the first project, which includes four international schools. The operation of the first two schools has begun this academic year, and work is on in the remaining phases of the project, which covers 5.17 acres. This brings the total service area to be developed by Al-Rabwa companies to about 65 acres, with total investments exceeding LE10 billion.
Located in New Cairo area, the Mostakbal City project is spanning over 11,000 acres and includes all (residential – educational – medical – commercial – administrative – entertainment – hotel – banks – gas stations) services.
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