Khalifa grants $100m for Cairo realty venture

Abu Dhabi: The Abu Dhabi Municipality will supervise the construction of the $100 million (Dh367 million) Shaikh Khalifa Residential City to be built in Cairo.

The donation was made by President His Highness Shaikh Khalifa Bin Zayed Al Nahyan, said Juma Mubarak Al Junaibi, General Manager of Abu Dhabi Municipality, during the signing of a Memorandum of Understanding with Emaar Misr.

The land for the construction of the city was donated by the Egyptian government.

Al Junaibi said: "The grant of $100 million by His Highness Shaikh Khalifa to construct this social project highlights the strong relations and co-operation that exists between the UAE and Egypt."

Al Junaibi said the project covering 2.2 million square metres will provide housing for Egyptians.

Integrated development

The city is envisaged as a fully integrated development featuring modern infrastructure including well-connected roads, power and telecom connectivity, healthcare centres, educational institutes, retail outlets, places of worship and community centres.

The architecture will be of international standards.