Abu Dhabi-based developer Eagle Hills is planning the construction of a new city near Cairo which will include an airport, hospitals, hotels and schools as well as a shopping centre, according to people with knowledge of the matter.
There will also be many homes targeted at low- and middle-income buyers, the people said. An official announcement is due next month, they said.
Egypt’s minister of investment, Ashraf Salman, said the government was looking at a privately funded project, costing between $75bn and $80bn. Two developers from the United Arab Emirates are being considered, he said.
