Egypt-based real estate developer, Madinet Nasr Housing and Development (MNHD) announced Monday that it has signed a protocol of a protocol of cooperation with the Egyptian Ministry of Defense, Cairo Governorate, the Urban Planning Authority and the General Authority for Roads and Bridges.
The protocol serves as a precursor for the approval of the amended Taj City master plan — MNHD’s most ambitious, mixed-use development spanning 3.5 million square meters in close proximity to Cairo International Airport and with easy access to Cairo’s key districts.
The amendments will accommodate the redistribution of the project’s amenities and facilities, allowing it to stay true to its design philosophy with the integration of city life conveniences and comfortable living as its core component
When completed, the Taj City development worth 30 billion Egyptian pounds ($4 billion)— which is MNHD’s most ambitious project to-date — will feature a wide variety of residential communities, office buildings, a medical centre, hotels, restaurants, shopping and other commercial ventures.
It is set to create thousands of direct and indirect jobs. Infrastructure works are already in progress with the main sewage piping installed and water and electricity networks complete. The project was designed by Belgium’s DDS according to global best practices and will feature a wide variety of residential communities, office buildings, a medical center, hotels, restaurants, shopping and other commercial ventures.
Meanwhile, the protocol also entails a commitment from MNHD to support the development of public roads and highway intersections in the areas surrounding the Taj City development — including the service axis running parallel to the Ring Road — in an effort to improve access and the flow of traffic in the East Cairo area.
“I wish to extend my sincere appreciation to all parties that facilitated the completion of this protocol and to thank the Ministry of Defense, the Cairo Governorate and the various authorities for their cooperation in realizing Taj City’s amended master plan. We are also truly excited to help answer the call from President al-Sisi for real estate and infrastructure projects to be supported and completed in a timely fashion and we look forward to pressing ahead with the project.” MNHD’s Chairman and Managing Director, Ahmed El Sayed said.
“We are thrilled to be helping meet, through Taj City, the growing need for housing options in Cairo. MNHD remains committed to helping drive economic growth not just through infrastructure development, but also the creation of direct and indirect jobs in a wide array of sectors, including construction, engineering, hospitality, transportation and logistics, and medicine,” added El Sayed.