74. Khaled Abbas

Designation: Chairman & Managing Director
Company: Administrative Capital For Urban Development (ACUD)
Country: Egypt
Establishment Date: 2016

Abbas was appointed to his current position in September 2022. ACUD is the owner and developer of the New Administrative Capital in Egypt, which spans 714 square kilometers and is located 35 km East of Cairo. The new city includes a government administrative district, a cultural district, and a wide variety of urban neighborhoods. ACUD recorded revenues of $800 million in 2022. The company plans to establish subsidiaries to manage the community, infrastructure, and city operations in preparation for listing on the Egyptian Stock Exchange. Abbas was previously the deputy minister of housing, utilities, and urban communities for national projects in Egypt. He is also a board member at the Egyptian Federation of Construction and the Social Housing and Mortgage Finance Fund and a member of the Tourism Development Committee.