Alabbar serves as the Founding Partner of Capital City Partners ( CPC ) , a private real estate investment and development firm . In March 2015 , CPC , alongside the Egyptian government led by President Abdel Fattah el-Sisi , announced plans for a $ 300 billion proposed new capital of Egypt to be as large as Singapore and located east of Cairo . The announcement for the fund was made at the Egypt Economic Development Conference held in Sharm El Sheikh . However , as of June 2015 , negotiations had stalled and it was reported that the Egyptian government cancelled a Memorandum of understanding ( MoU ) with CPC
Egypt Economic Development Conference
Egypt Economic Development Conference
Mohamed Alabbar