KSH Investment, affiliated with the Special Department of His Highness Sheikh Mohammed bin Khalid Al Nahyan, and SKG Holding, the Egyptian company affiliated with businessman Safwat Al-Qalioubi, signed strategic partnership contracts to launch a huge investment project with investments of half a billion dollars on the Nile Corniche in the Warraq area in Cairo.

The partnership between the two sides aims to enhance cooperation in the real estate sector and launch a global project in the Tanash area in Cairo overlooking Warraq Island, on an area of 20,000 square meters, with investments of 24 billion Egyptian pounds, equivalent to approximately half a billion dollars.

The new project includes the construction of 3 high-rise residential and commercial towers and a five-star hotel, to be completed within 4 years.

The agreement was signed on the Emirati side by His Excellency Abdul Jalil Abdul Rahman Al Blouki, Managing Director of the Special Department of His Highness Sheikh Mohammed bin Khalid Al Nahyan and KSH Investments, Dr. Ahmed Mansour, CEO of the Private Department of His Highness Sheikh Mohammed bin Khalid Al Nahyan and the KSH Company, and Safwat Al Qalioubi, Chairman of the Board of Directors of SKG Holding Company.

For his part, Egyptian businessman Safwat Al-Qalioubi, Chairman of SKG Holding of Egypt, confirmed that the new project is a major leap in the Egyptian real estate sector, adding that the project will present a new concept of modern life by providing integrated residential and commercial units, in addition to a five-star luxury hotel to meet The needs of local and international visitors, and this partnership reflects international confidence in the Egyptian economy and its future prospects.

He explained that this project represents an important addition to the infrastructure in the Tanash area, and will contribute to improving the quality of life for the residents of the area and its surrounding areas. This also enhances the strong cooperation between Egypt and the UAE in the field of investment and real estate development.