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Egypt Secures $345 Million For Electric Railway Project

The ambitious new project will link Ain Sokhna on the Red Sea to Marsa Matrouh and Alexandria on the Mediterranean.

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egypt secures $345 million for electric railway project
Siemens

Over the past few years, Egypt has been investing in multiple road, river, and rail projects in a bid to reduce its environmental impact. The Islamic Development Bank recently approved $344.5 million of funding to finance Phase I of the Electric Express Train Project. The massive civil engineering construction will benefit 25 million people annually and decrease CO2 emissions by approximately 250,000 tons per year.

According to a press release, Ain Sokhna on the Red Sea, Marsa Matrouh and Alexandria on the Mediterranean will be linked by a 660 km track.

Also Read: A Guide To Digital Payment Methods In The Middle East

“The transformative projects approved in this board meeting will have a significant impact on improving transportation, education, and energy, as well as promoting regional economic integration and addressing emergencies,” says Muhammad Al-Jasser, president and board chairman of IsDB.

The electric train will connect all of Egypt’s governorates and comprise three lines, each with 60 stations and a total of 2,000 km of track. The first line will stop at 22 locations from Ain Sukhna to Hadayek October, Alexandria, El Alamein, and Marsa Matrouh.

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NEOM Announces Breathtaking Luxury Waterfront Development

The residential community will offer a wealth of living, dining, and entertainment options, along with a stunning marina and international school.

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neom announces breathtaking luxury waterfront development
NEOM

The board of Saudi Arabia’s special economic zone, NEOM, has revealed plans for a new development named Jaumur. The project will see the creation of a “cosmopolitan luxury community” nestled on the coast of the Gulf of Aqaba.

According to a recent press release, the luxury residential community will “serve the highest standards of future livability and active lifestyle [offering] a unique blend of experiences on both land and sea, complementing NEOM’s evolving regional development in northwest Saudi Arabia”.

Jaumur will include 500 apartments and 700 luxury villas clustered around a marina that will become home to 6,000 lucky residents. The location will offer private moorings and easy waterfront access, along with a selection of upscale hotels with a combined capacity of 350 suites.

neom jaumur project

The marina itself is a dramatic focal point of the development, featuring a colossal 1.5km covered mooring area in the shape of an aerofoil. The cantilevered structure not only forms a breathtaking landmark but will also be able to shelter the world’s largest superyachts.

The marina promenade promises to be a lively, vibrant area featuring a host of entertainment, leisure, and cultural experiences, along with upscale retail stores and world-class restaurants.

Also Read: Dubai Gives Go Ahead For $35 Billion Al Maktoum Airport Expansion

Although Jaumur is very much a place for sophisticated living and relaxation, the development will also incorporate a “state-of-the-art deep-sea research center and top-tier international boarding school”. Planners hope to attract world-leading oceanographic researchers as well as elite students to this unique location.

We’ll leave the final words about this exciting development to NEOM’s press department: “Jaumur’s unique architectural design integrates water where golden sands meet the deep blue of the Gulf of Aqaba. It is a luxury destination to visit, explore, live, and prosper: an opportunity to become part of a dynamic community”.

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