2024/08/16

Khaled Abbas named one of Forbes' most powerful Middle East CEOs

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.