Monday 23 Dec
Engineer Khaled Abbas has once again been named among the most powerful 100 CEOs in the Middle East by Forbes Middle East. This marks the second consecutive year the leader of Egypt’s ambitious New Administrative Capital project has received the prestigious recognition. Abbas's instrumental role in driving investment into the mega-project has been cited as a key factor in his selection. The New Administrative Capital is seen as a catalyst for Egypt's economic growth and a prime destination for both domestic and international investors.
Forbes’ list recognizes leaders
whose impact transcends traditional business metrics.
Engineer Khaled Abbas assumed his
current position in September 2022. The New Administrative Capital for Urban
Development is the owner and developer of the New Administrative Capital in
Egypt. Prior to his current position, he served as Deputy Minister of Housing,
Utilities, and Urban Communities for National Projects in Egypt. Abbas also
contributes his expertise to the boards of the Egyptian Federation of
Construction Contractors and the Social Housing and Real Estate Financing Fund.
Forbes Middle East highlights the
ability of these CEOs to steer their companies through economic turbulence by
harnessing technology and sustainability. The New Administrative Capital for
Urban Development exemplifies this approach. In March 2024, the company
partnered with Atos to create a joint venture focused on delivering
infrastructure and IT solutions for the smart city. Moreover, to support the
growing residential population, a natural gas supply agreement was signed with
Gas Egypt in June 2024 for the first phase of the development.
Forbes Middle East has unveiled
its fourth annual list of the region's most powerful CEOs. These leaders are
distinguished by their impact beyond traditional business metrics. In a region
where governments often hold significant stakes in major companies, CEOs must
balance shareholder value with broader national goals.
The 2024 Forbes Middle East list
spotlights the accomplishments of the region's most influential business
leaders. These CEOs have demonstrated exceptional ability in driving their
companies' success across diverse sectors including energy, finance,
technology, and real estate.
The list encompasses 100 business leaders representing 19 nationalities, with Egyptians following closely behind Emiratis in number. This reflects a growing trend of localization as indigenous talent takes the helm of major companies. The banking sector is prominently featured, accounting for 19 of the 100 positions. The real estate sector follows with 10 representatives, a testament to its recent surge in the past two years.
