Horizon Egypt Developments has announced a significant investment in New Cairo with the launch of “Royal Saeed Towers,” a mixed-use development project valued at over EGP 42 billion. The project, secured through a land allocation agreement with the New Urban Communities Authority (NUCA), aims to bolster Egypt’s tourism sector and create a landmark destination for luxury hospitality and commercial spaces. This new development underscores growing real estate investment in the region.
The agreement was signed by Sheikh Dr. Majid bin Saeed Al Nuaimi, Chairman of “Ajman Ruler’s Emiri Court” and Horizon Egypt Developments, and Eng. Ahmed Ali Mohamed Hassan, NUCA’s Deputy Chairman. Located strategically near key transportation routes, Royal Saeed Towers is envisioned as a catalyst for economic growth and job creation in the East Cairo area. This project also aligns with Egypt’s broader economic goals, including attracting foreign direct investment.
Royal Saeed Towers: A New Benchmark for New Cairo Developments
The Royal Saeed Towers project will span approximately 28 acres and feature two towers reaching 150 meters in height, alongside a collection of standalone villas. Horizon Egypt Developments intends the project to set a new standard for integrated urban communities, emphasizing both luxury and sustainability. According to the company, it represents a “genuine value addition” to New Cairo, capitalizing on the city’s expanding economic base.
Project Components and Design
Beyond the towers and villas, the development incorporates a world-class hotel designed to enhance the hospitality offerings in East Cairo. Royal Saeed Towers will offer serviced residential units, ranging in size from one to three bedrooms, as well as exclusive “Royal Units” featuring unique design elements like double-height ceilings and panoramic glass facades.
The project’s design prioritizes a blend of urban convenience and a resort-like atmosphere. Extensive green spaces and premium amenities are planned to provide residents with comfort and privacy. A curated selection of high-end retail and international dining concepts will contribute to a vibrant commercial zone.
Economic Impact and Job Creation
NUCA officials stated that the development exemplifies successful public-private partnerships and maximizes the return on investment in allocated lands. The project is projected to generate thousands of direct and indirect employment opportunities, boosting the local economy. Furthermore, it’s expected to stimulate investment in associated industries, such as construction and materials manufacturing.
Horizon Egypt emphasized its commitment to projects with long-term economic and human value. The development is strategically positioned to benefit from proximity to New Cairo, Mostakbal City, and the New Administrative Capital, leveraging established infrastructure and transportation networks. This location is key to delivering both residential and commercial property value.
According to Horizon, the Royal Saeed Towers initiative directly supports Egypt’s Vision 2030, which prioritizes sustainable urban development and increased tourism. The project aims to contribute to the nation’s goal of attracting 30 million tourists annually. The development will likely increase demand for hospitality services in the area.
Looking ahead, the next phase involves finalizing architectural plans and commencing construction, with a projected timeline of several years for completion. Continued monitoring of economic conditions and regulatory approvals will be crucial to the project’s successful implementation. The impact of global supply chain dynamics on construction material costs also remains an area to watch.
