89. Khaled Abbas

Designation: Chairman & Managing Director
Company: Administrative Capital For Urban Development (ACUD)
Country: Egypt
Nationality: Egyptian
Sector: Real Estate & Construction

Abbas assumed his current position in September 2022. ACUD is the owner and developer for the New Administrative Capital in Egypt, spanning 714 square kilometers. The new city includes a government administrative district, a cultural district, and a wide variety of urban neighborhoods. ACUD employs 275 people and recorded revenues of $800 million in 2022. ACUD plans to list on the Egyptian stock exchange in 2024. Abbas was previously the deputy minister of housing, utilities, and urban communities for national projects in Egypt. He is also a board member of the Egyptian Federation of Construction and Building Contractors, the Social Housing and Mortgage Finance Fund, and a member of the Tourism Development Committee.