(MENAFN) Abu Dhabi-based developer Eagle Hills is set to build a new city worth USD80 billion near Cairo, Arabian Business reported.
The new city is set to include an airport, hotels, and a mall as well as amenities such as hospitals and schools.
Egypt's minister of investment said that the choice of the developer was narrowed to two companies from the United Arab Emirates.
Eagle Hills' team is led by executives who once worked at Emaar Properties, including Emaar's current chairman.
Dubai-based Emaar is also expected to play a key role in building a new capital city in Egypt, According to Egypt's Prime Minister.
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