State-owned Telecom Egypt has reached an agreement to supply UAE-based Al-Futtaim’s Real Estate Group with telecommunication services for its Cairo Festival City project.

“Telecom Egypt seeks to meet its clients’ needs in high-tech services at competitive prices,” said Mohamed El Nawawy, Telecom Egypt’s MD/CEO.

The project involves 300 retail shops, elegant administrative offices and a residential community comprising a large number of apartments and villas, worldwide hotels and international schools, all within a natural environment, Daily News Egypt reported.

The Egyptian company will provide services such as virtual private network (VPN), Dedicated Internet, data transfer and triple play, using advanced fibre optic technology that guarantees high quality voice output and provides users with access to fast internet, with speed reaching 10G per sec.

According to the MD, the agreement will propel the company towards achieving its vision of becoming the industry’s frontrunner by sponsoring key projects across the country’s telecom business sphere.

Its quest for market dominance was given a further boost today, after regulators disclosed plans to grant fixed-line and mobile operating licence in the coming weeks, which will allow Telecom Egypt provide mobile services to customers.

A detailed scan of the regional market was carried out to determine the most suited company to deliver quality services, The MD of Al-Futtaim’s Real Estate Development, Dr Mohamed Al-Mekawy noted.

“[The agreement was based] on a careful market study to determine the largest and most efficient service providers, not only in Egypt, but on a regional level,” he said.