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CairoScene
4 days ago
- Business
- CairoScene
How ACUD Is Quietly Reshaping Egypt's Urban Future
How ACUD Is Quietly Reshaping Egypt's Urban Future The New Capital for Urban Development (ACUD) is charting a course for Egypt's most ambitious urban development project. Away from the dense fabric of Cairo, a new city is taking shape. It has all the trademarks of modern state-building: ministries, high-speed links, entertainment venues, and masterplans thick with ambition. But behind the steel and glass is an entity quietly shaping not just buildings, but perception - both at home and abroad. That entity is the New Capital for Urban Development (ACUD), the owner and master developer of Egypt's New Capital. Founded to deliver on Egypt's vision of a diversified, future-facing economy, ACUD is operating on an increasingly international stage. In the first quarter of 2025 alone, the company has pushed forward on multiple fronts - from global representation at high-profile industry events to strategic memoranda of understanding with regional governments. At MIPIM 2025 in Cannes, one of the real estate industry's most prestigious gatherings, ACUD stood as Egypt's sole representative. This marks its third consecutive year at the summit. Recognition soon followed. ACUD was awarded the 2025 ACE (Acknowledging Contribution & Excellence) Award for its work in shaping Egypt's first sustainable city - a win that positions the New Capital not only as a local solution, but as a case study in urban innovation. That same vision was carried to the Real Estate Future Forum (REFF) in Riyadh, where ACUD took part in high-level regional discussions about smart city frameworks and urban resilience. But perhaps most telling is ACUD's steady expansion of influence across Africa. In Q1, the company signed a Memorandum of Understanding with Zambia, the third such agreement with an African nation following an earlier pact with Zimbabwe and one currently in process with Madagascar. These agreements are part of a broader soft power play: to export Egyptian urban planning expertise and invite local private sector stakeholders to do the same. Add to that a growing Asian footprint - ACUD now counts MoUs with South Korea and China - and the New Capital begins to read less like a national project and more like a transcontinental venture. Back at home, ACUD continues to entrench itself in Egypt's domestic growth narrative. In April, the company showcased its smart city solutions at Bahrain's Social Housing Innovation Exhibition & Conference. It activated a new entertainment strategy in partnership with LNME and TM, launching cultural events headlined by artists like Michael Bublé, Khaled Ghattas and Cairokee, testament to the city's bid for livability and lifestyle appeal. The New Capital is also increasingly framed as a logistical upgrade. In Q1, ACUD ramped up messaging around the city's proximity to Greater Cairo and key transit routes, highlighting improved access and reduced commute times as selling points not just for businesses, but for families and institutions considering relocation. Finally, ACUD bolstered its presence within national economic networks, participating in the Egyptian Businessmen's Association and reinforcing its role as a bridge between public planning and private enterprise. The New Capital is still under construction. But ACUD's Q1 activity suggests it is no longer just building a city, it's building a case. A case for Egypt's relevance in the global real estate conversation. A case for strategic urbanism as soft power. And a case for Cairo's successor not as a replacement, but as a recalibration.
Argaam
04-02-2025
- Business
- Argaam
ASDA to boost private sector investments to SAR 27B: Acting CEO
Hashem Al-Dabbagh, Acting CEO of Aseer Development Authority (ASDA), said that the volume of private sector investments in the region has so far reached SAR 7 billion, adding that work is underway on investments worth SAR 20 billion, so that the target will be SAR 27 billion as a total investment from the private sector. In an interview with Argaam, on the sidelines of the Real Estate Future Forum, the top executive indicated that these investments are different from the major and qualitative investments of the Public Investment Fund (PIF), which are being worked on, as the designs have been approved. Al-Dabbagh also pointed out that the key projects are the valley project in the heart of Abha, where the old riverbed has been revived to be a waterway throughout the year, in addition to developments that include commercial, residential, cultural, and agricultural areas.
Gulf Insider
30-01-2025
- Business
- Gulf Insider
Saudi Arabia Building The ‘Most Complex Structure Known To Man,' Says Developer
At the core of The Mukaab, a spiral tower will offer retail, dining, hospitality and entertainment facilities, while its upper floors will contain residential apartments. Supplied In a panel discussion during the Real Estate Future Forum, Michael Dyke, CEO of New Murabba Development Co., described the ambitious scale and vision of the building which is being developed under the patronage of the Crown Prince Mohammed bin Salman. Saudi Arabia is set to build the 'most complex structure known to man' as part of a major architectural project within the New Murabba development, according to the head of the company behind the project Positioned at the heart of the large-scale urban project, the Mukaab is designed to be a futuristic mixed-use landmark that will contribute to Riyadh's evolving skyline. In a panel discussion during the Real Estate Future Forum, Michael Dyke, CEO of New Murabba Development Co., described the ambitious scale and vision of the building which is being developed under the patronage of the Crown Prince Mohammed bin Salman. 'Mukkab is a structure, it will be pound for pound, I think the world's most complex structure ever created known to man or woman in the history of time,' said Dyke. 'We have a structure which is 400 meters by 400 meters above the ground. We're talking about a structure which will look at more than 1,000 meters above sea level,' he said. While much of the focus is on the Mukaab's above-ground presence, Dyke began dissecting the project by emphasizing the vast underground development. 'Below the ground is enormous as well. It's a complete cavernous labyrinth of various different asset classes,' he explained, adding: 'One example, the retail under Mukaab and around Mukaab is the size of Dubai Mall today and will be capable of extending to be bigger. So that's just a small example of what you don't see because it's under the ground.' The design is set to feature multiple skyscrapers within the structure. 'We will have something like two to three Empire State Buildings on each corner, which anchor the four corners of Mukaab,' said Dyke, adding: 'We will have a dome which will be something in the order of about 360,000 sq. meters, which will be 380 meters high by 340 meters in diameter inside what effectively is the equivalent of Empire State Buildings.' At the center of the Mukaab, a tower will stand as a unique architectural feat, which, according to Dykye, 'will be the only skyscraper in the world that lives inside another building, which will be an equivalent size of the Eiffel Tower, but will be fully inhabited.' There will be 27,000 people moving around the lower levels of the tower at any point in time. The structure will also feature 'the world's largest roof on the top at 16 hectares, which will be a fully living space.' Additionally, the Mukaab's design incorporates Riyadh's architectural heritage with a fully activated Najdi facade, he said, adding that it is 'the most beautiful Najdi facade that reflects the architectural history of the Kingdom.' Dyke believes the structure will offer an immersive experience unlike any other, saying: 'When you are inside the dome, you will be transported to other worlds. The worlds will change frequently, and you will not be able to see the dome when you're inside it because we're creating that.' He explained that the project incorporates advanced technological layers to create an immersive experience, with applications in hospitality, retail, and entertainment. In a separate panel, Marco Macagnano, head of Digital Real Estate Canada at Deloitte, highlighted the importance of innovation in real estate, emphasizing that modern developments should go beyond static assets. 'It means additional capital to the bottom line innovation products, and it also importantly provokes a new approach to real estate, where we're not just maintaining or stabilizing our assets, but we're investing in constant improvement— buildings that upgrade, not just flexible, but upgradable buildings that can automatically turn on new features with a software update, as opposed to installing new systems,' he said. This perspective aligns with the vision behind Riyadh's Mukaab, which aims to integrate latest technology and flexible infrastructure. Macagnano further pointed out that large-scale projects, when designed with a systems-thinking approach, have the potential to redefine business and economic environments. 'The bold approaches to massive investments in infrastructure, big projects that can think about the ecosystem as a whole put Saudi Arabia in an incredible position to differentiate,' he said. He emphasized that new developments should not be constrained by outdated infrastructure but instead be designed for future adaptability. Beyond its architectural complexity, Dyke highlighted the economic and social impact of New Murabba as a whole. 'The economic stimulus that New Murabba will create upon full completion, when all three phases are built out, we're talking about 400,000 people living in New Murabba. We're talking about tens of millions of people visiting Mukaab every year. And we're talking about a whole economy that will not be separate from Riyadh,' he said. A key element of the development is the introduction of higher-density living in Riyadh. 'New Murabba will have a characteristic of mid and high-level living,' Dyke noted. 'That's one thing which creates an opportunity, which creates this livability aspect, and above and beyond that, the density of people within New Murabba will be in the order of 20,000 people per sq. km, compared to 4,000 today,' Dyke added.
Saudi Gazette
29-01-2025
- Business
- Saudi Gazette
Bill Clinton: Saudi Crown Prince an inspiring leader and Vision 2030 a bold development plan
Saudi Gazette report RIYADH — Former US President Bill Clinton described Saudi Crown Prince and Prime Minister Mohammed bin Salman as an inspiring leader. "Saudi Arabia has an inspiring leader who has created thousands and even millions of opportunities, for his citizens, to choose from these opportunities as if they were choosing them from a golden plate,' he said while addressing the Real Estate Future Forum in Riyadh. Clinton called Saudi Vision 2030 as one of the bold development plans in the modern era. 'Saudi citizens, both men and women, should feel grateful and thankful for what this inspiring vision offers here in Saudi Arabia,' he said while emphasizing that Saudi leaders have a great passion to achieve the plans by the year of realizing the vision. Clinton noted that Saudi Arabia has paid great attention to developing human capital. 'Saudi citizens enjoy a state of loyalty towards their leaders, believing in their ambitious visions to develop the country's economy,' he said. Earlier on the day, Clinton met with Crown Prince Mohammed bin Salman during which they exchanged friendly talks.
Leaders
29-01-2025
- Business
- Leaders
Exclusive Interview: ROSHN Group's Role in Shaping Saudi Arabia's Real Estate Future
, owned by the Saudi Public Investment Fund (PIF), continues to play a pivotal role in shaping Saudi Arabia's evolving real estate landscape. At the Real Estate Future Forum 2025 in Riyadh, Alex Malouf, Senior PR Director at ROSHN Group, emphasized the company's commitment to national development goals. Commitment to National Development Goals 'ROSHN Group has maintained a strong presence at the Real Estate Future Forum for four consecutive years now,' Malouf explained. 'We recognize this forum's strategic importance for connecting with potential investors and government stakeholders in Saudi Arabia's real estate sector.' 'The Kingdom's real estate market demonstrates remarkable innovation through new development concepts that reshape how people envision their living spaces,' Malouf noted. 'International investors increasingly show interest in Saudi Arabia's real estate sector, while local developers continue to expand their investments.' Alignment with Vision 2030 As a wholly-owned PIF company, ROSHN Group actively supports multiple Vision Realization Programs with clear objectives,' Malouf states. 'Our primary goal focuses on increasing Saudi national home ownership to 70% by the target year of 2030.' 'We prioritize quality of life through our integrated community developments, which offer comprehensive amenities for long-term residents,' Malouf added. 'Our communities feature diverse facilities, including retail spaces, office complexes, and various dining establishments within family-friendly, secure environments.' 'ROSHN Group actively supports local content development and strengthens both construction and development sectors under PIF's vision,' Malouf concluded. Recent Developments In July 2024, ROSHN Group signed a Memorandum of Collaboration with the Saudi Ministry of Tourism to support the Kingdom's National Tourism Strategy. This partnership aims to develop tourism destinations, share insights, and offer training programs for young Saudis entering the industry. Additionally, ROSHN announced plans for 'Roshn Stadium,' a 45,000-seat venue in Southwest Riyadh, set to host 2034 FIFA World Cup matches. Through these initiatives, ROSHN Group demonstrates its dedication to enhancing the quality of life for Saudi citizens and contributing to the Kingdom's Vision 2030 objectives. Short link : Post Views: 81
