Emaar Properties, the world’s No 1 real estate developer in terms of market capitalisation, signed a Memorandum of Understanding (MoU) with the Egyptian Government to start work on a new property Egypt development in Cairo - an integrated community based in Egypt’s new Smart Village.

Located in the Egyptian capital at the beginning of Cairo-Alexandria highway, the development represents a multi million dollar investment in the historic city and will have at its epicentre a world-class convention centre to meet the needs of the growing meetings and conferences market which find Cairo an interesting and historical location.

Emaar Chairman Mohamed Ali Alabbar, Emaar Misr Vice Chairman Mohamed Shafik Gabr, Egypt’s Minister of Telecommunications Dr. Tarek Kamel and Smart Village Chairman Dr. Ali Hefnawy signed the MoU in the presence of Egypt’s Prime Minister Dr. Ahmed Nazzif.

The 2.4 million sq. ft. of land development features an integrated convention and exhibition centre, hotel, serviced apartments, commercial, office space and shopping village. Located within Egypt’s state-of-the-art Smart Village, the development will complement the high tech environment of its surroundings by providing business support through the premier commercial, corporate and leisure offering.

Mohamed Ali Alabbar, said: “Today’s signing marks a significant step forward in this unique project. It is an honour to be part of a centre of excellence such as Egypt’s Smart Village. Emaar will bring its own expertise and excellence to the Smart Village by creating premier business environments and superb facilities.”
The Convention Centre development will be designed to increase the corporate and business facilities and services available in the Smart Village by providing an eight storey hotel plus serviced apartments for corporate visitors and a high-tech office tower.