The investment cost for the first phase of the first sustainable “eco-city” in Egypt is EGP 2.4bn, Ahmed Hassan, chairperson of Mariout Hills Developments, a specialist in sustainable cities, said.
Hassan noted that the eco-city will be located in the North Coast, explaining that it will comprise of residential units which comply with all globally adopted environmental requirements, and depends entirely on clean energy from solar power plants, potable drinking water production units with condensation technology in order to achieve full self-sufficiency in energy, water, and organic food.
Furthermore, he elaborated that the sustainable development project is a community that combines housing and accommodation, health tourism, educational, medical, and recreational services and sports investment, with higher investment returns than the existing ones due to the low consumption cost.
Hassan pointed out that sustainable development should represent the future vision of the pioneers of reconstruction in Egypt and the Middle East, a departure from the traditional building style, to establish eco-friendly and non-resource depleting cities.
Marriott Hills Developments is a Swiss-Egyptian multinational company and a member of the Swiss Egyptian Business Association, which includes nationalities from 15 Arab and European countries, notably Denmark, Switzerland, Austria, Sweden, the United Kingdom, Australia, the UAE, Kuwait, and Bahrain.