Mohammed, Sisi witness signing of agreement to build Egypt's new capital

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and Egyptian President Abdul Fattah El Sisi attended the signing of an agreement to build a new administrative and business capital for Egypt at a cost of 150 billion Egyptian pounds.

It is planned to be built at Ain Al Sokhna road, to the east of Cairo, over 700 sq km (270 sq miles) and houses about seven million residents.

The signing ceremony took place on the sidelines of Egypt Economic Development Conference in Sharm El Sheikh, Egypt.

The deal was signed by Mohammed Ali Alabbar, Chairman of Emaar, which is investing in the project, and, from the Egyptian side, by Dr. Mostafa Madbouly, Minister Ministry of Housing, Utilities and Urban Development.

Among others present were Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister, and members of delegation accompanying Sheikh Mohammed bin Rashid, Ibrahim Mahlab, Egypt's Prime Minister, a number of ministers and senior officials.

Sheikh Mohammed and President El Sisi were briefed about the huge aspects of the design.

More than 35 specialised Egyptian construction companies will take part in the implementation of the project.

The new capital will host ministries, official institutions and embassies, headquarters for companies and private sector firms.

It will also include resorts and modern shopping centres and residential neighbourhoods.

The UAE Vice-President, President El Sisi, Sheikh Abdullah bin Zayed, Dr. Sultan bin Ahmed Sultan Al Jaber, UAE Minister of State, and Madbouly toured the exhibition held on the sideline of the conference to feature the new administrative capital.

Dr. Madbouly briefed them about the details of a colossal project, which will be constructed between Cairo and Suez Canal, adding that the new capital will be named after Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The promising city will be the new administrative capital of Egypt and will accommodate about seven million people. After completion of the construction, the new capital will be linked to Cairo and the Suez Canal.

Sheikh Mohammed bin Rashid and the Egyptian president appreciated the project, describing it as "a true reflection of the depth of fraternal ties between the UAE and Egypt's leadership, its government and people”.

Mohammed meets Lebanese PM

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Saturday, met with Lebanese Prime Minister Tammam Salam and members of the accompanying Lebanese delegation, on the sidelines of Egypt Economic Development Conference in Sharm el-Sheikh, Egypt.

During the meeting, the two parties touched on the bilateral relations between the UAE and Lebanon and ways of promoting them in economic and tourism spheres.

They also touched on the functions of the conference in Sharm el-Sheikh and the importance of joint Arab efforts to back Egypt economically and through investments as it is the heart of the Arab nation.

The Lebanese prime minister hailed the civilisational development in the UAE, and its successful experience in developing its infrastructure and attracting investments that back its national economy and the Arab economy as a whole.

The meeting was attended by members of the delegation accompanying Sheikh Mohammed bin Rashid to the conference.

Mohammed returns to UAE

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Saturday returned to the country after heading the UAE delegation to the Egypt's Economic Development Conference, being held in Sharm El Sheikh, Egypt.

Upon his arrival at the Dubai International Airport, Sheikh Mohammed was received by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Mohammed bin Rashid Al Maktoum Foundation and a number of officials.

He was accompanied by Sheikha Lubna bint Khalid Al Qasimi, Minister of International Cooperation and Development (MICAD), Sultan bin Saeed Al Mansouri, Minister of Economy, Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, Lt. General Misbah bin Rashid AI Fattan, Director of the Office of the Vice-President and Khalifa Saeed Suleiman, Director- General of the Department of Protocol and Hospitality in Dubai.
 

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