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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.
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.
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“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.
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.
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.
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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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