Cairo – Mubasher: City Edge Developments signed three memorandums of understanding (MoU) with Contrack Watts, a subsidiary of Orascom Construction; French multinational electric utility company ENGIE; Majid Al Futtaim; and The Village Beirut.

The first MoU is signed with ENGIE and Contrack to manage and maintain properties at New Alamein City after being delivered by contractors, according to a cabinet statement on Thursday.

In addition, the second agreement with signed with Majid Al Futtaim to manage, market, lease, and maintain the 55,000-square metre international shopping mall, which will be opened by Summer 2020, in the new urban city.

The third MoU signed with The Village Beirut covers the management and operation of entertainment areas and restaurants at New Alamein City.

The real estate developer, a 60%-owned subsidiary of the New Urban Communities Authority (NUCA), is the sole distributor of projects at the New Administrative Capital, New Alamein, and New Mansoura.