Medhat Barakat: The new Dubai begins from Sphinx after the Supreme Administrative Court ruling... and global projects on the land of the Pashas
Engineer Medhat Barakat, Chairman of the Board of Directors of Al-Bashawat for Urban Development and Land Reclamation, revealed that the new Sphinx City area possesses significant investment potential, qualifying it to become one of the most important real estate and tourism cities in Egypt in the coming years. He indicated that it is poised to become the new Dubai for investment in Egypt.
Barakat explained that the city's strategic location near the Grand Egyptian Museum and Sphinx International Airport, in addition to its direct connection to the Cairo-Alexandria Desert Road and the modern road network, makes it one of the most attractive areas for real estate and tourism investments in Egypt in the coming years.
He pointed out that the urban development boom that Egypt has witnessed in recent years came within the framework of the vision of the new republic under the leadership of President Abdel Fattah El-Sisi, which relies on establishing new cities, developing infrastructure, and opening up broad horizons for investment and development.
Supreme Administrative Court Ruling Ends Years of Dispute
Barakat confirmed that the final ruling issued by the Supreme Administrative Court ended years of controversy surrounding the land of Al-Bashawat Company's project in Sphinx, affirming the soundness of the company's legal position.
He emphasized that the dispute that arose in recent years was not with the New Urban Communities Authority or the Sphinx City Authority, but rather with the Ministry of Agriculture and Land Reclamation prior to the events of the January 25 Revolution.
He explained that the transfer of urban planning jurisdiction to the area after the revolution made the urban planning authorities responsible for implementing development procedures.
Global Projects on Al-Bashawat Land
Barakat pointed out that the Al-Bashawat Company project, located on approximately 250 acres near Sphinx Airport, represents one of the most prominent anticipated investment projects in the area.
He added that the company plans to implement an integrated tourism and real estate project that includes international hotels, service and administrative areas, and modern residential units based on the concept of smart cities and green building.
He affirmed that these projects will contribute to transforming Sphinx into a major economic and tourist hub in western Cairo.
Sphinx: The Future of Investment in Egypt
Barakat concluded his remarks by emphasizing that the new Sphinx City possesses significant investment opportunities, especially with the ongoing development of the infrastructure in the area.
He said that the next phase will witness the launch of several major projects that will change the real estate and tourism investment map in West Cairo, stressing that Sphinx is a candidate to be the new Dubai of investment in Egypt in the coming years.