Egypt’s ACUD signs agreement with JOBMASTER for restructuring ahead of IPO

The restructuring is an important strategic step to boost ACUD’s operational efficiency, said Chairman and Managing Director Khaled Abbas.

Abbas stated that the agreement with JOBMASTER will bolster his company’s status as a key player in the Egyptian real estate sector by boosting the company's operational efficiency.

Benefiting from JOBMASTER’s expertise in administrative consultancy and restructuring of companies and institutions through analyzing and evaluating the operational environment and supplying human resources solutions reflects ACUD’s belief in the improvement of the organizational and technology structures to increase workforce efficiency, Abbas added. 

ACUD is augmenting its efforts to accelerate the pace and improve the quality of the New Administrative Capital, Egypt’s 170,000-fedan megacity currently under construction 60 kilometres southeast of Cairo. The megacity is set to house 6.5 million people when completed.

On Saturday, ACUD forged a groundbreaking alliance with the global digital transformation company Atos to create a joint stock company to drive IT infrastructure and smart city services in the new capital. The agreement was signed on the sidelines of the 2023 UN Climate Change Conference (COP28).