NUCA, Future of Egypt ink MoU to establish Modon company
Updated 4/3/2025 8:33:00 AM
Arab Finance: The New Urban Communities Authority (NUCA) and the Future of Egypt, an authority responsible for sustainable development, have signed a memorandum of understanding (MoU) to establish Modon, a joint-stock company specializing in the management, maintenance, and operation of buildings, urban communities, and infrastructure, as per a statement.
As per modern international systems and standards, Modon also aims to monitor cleaning works in new cities while ensuring sustainability and quality in urban services.
Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny stated that the initiative is part of a broader strategy to develop a professional model for city management, enhance the efficiency of public asset operation, and support sustainable urban development.
He emphasized that Modon will play a key role in preserving investments and ensuring high service standards across new urban communities.
Musanadah Assets and Facilities Management, a subsidiary of Future of Egypt, will contribute to Modon's operations, leveraging its expertise in asset management and its role in overseeing major national projects.
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