City Edge Developments Signs an Agreement with Al Arabia Cinema for Production and Distribution to Manage and Operate the Cinema Complex in the Heritage City in New Alamein
City Edge Developments signed a contract with Al Arabia Cinema for Production and Distribution, to manage and operate the cinema complex in the Heritage City in New El Alamein. This comes as part of the Egyptian government’s plan to develop an entertainment hub in New Alamein. The agreement was signed at the Ministry’s headquarter between Mohamed El Dahan, CEO of City Edge Developments, and the iconic media figure, Esaad Younes, Chairman of the Board of Directors of Al Arabia Cinema for Production and Distribution. In accordance with the partnership, the cinema complex, in the Heritage City, will be ready to receive pioneers and cinema lovers as of the summer of 2023, where state-of-the-art entertainment systems will be used to provide an exceptional entertainment experience, for an ultimate enjoyable cinema experience for the latest Arabic and International movies.
Strategy of the Ministry of Housing
Mohamed El Dahan, CEO of City Edge Developments, stated that the company is working to implement the strategy of the Ministry of Housing, which is represented by the New Urban Communities Authority, to transform the New Alamein City as a destination for Egyptians all year long and not only during the summer period. He stressed that the agreement, with Al Arabia Cinema for Production and Distribution, comes of the plan to develop an entertainment hub in the city as well as hospitality, educational, and medical services. Moreover, the New Urban Communities Authority also offers various activities from both the industrial and agricultural services, that enable the city to function all year long and have New Alamein become a multipurpose and fully developed city for all residents.
The iconic media personality, Esaad Younes, Chairwoman of the Board of Directors of Al Arabia Cinema for Production and Distribution, noted that partnership adds to the company’s record of outstanding and exemplary success through the various cinemas it operates in several key and strategic locations. She also expressed her happiness and pride in the new contract, which is one of the most important partnerships established by the company, since the new cinema is tied in with a key national project, the New Alamein City. The project is considered one of the most important touristic attractions, due to the developments that it is witnessing to overhaul the concept of the North Coast as an all year round destination with a thriving touristic appeal as well, not to be just limited to a summer retreat.
It is worth mentioning that New Alamein City is one of the Fourth Generation cities that offer commercial and residential units. City Edge Developments is always keen to support art and culture by providing many services, such as cinemas, to spread the cultural and entertainment aspects people of all ages and from all around.
A leader in real estate development
City Edge Developments is an Egyptian joint stock company launched in 2017 with a capital of EGP 2 billion. The company was established as a result of the cooperation between the New Urban Communities Authority of the Ministry of Housing, Utilities and New Urban Communities, split between them with 74% share, and the Housing and Development Bank with 25% share, and finally the Holding Company for Development and Investment at 1% share (HDBK.CA). City Edge is one of the leading companies in the fields of real estate development and management of real estate assets in the Egyptian market. The company develops and manages the development of a group of exceptional real estate projects in Egypt that encompass various real estate assets, including several residential projects, commercial malls, hotels, restaurants, and administrative offices. The company was recently awarded the "Fastest Growing Real Estate Company in Egypt" award. City Edge has also succeeded in launching 10 successful projects all over Egypt since its inception.
