Annual investments in smart cities across the Middle East surpassed the $2 billion mark in 2021. From Masdar in Abu Dhabi to The Line in NEOM, smart cities are evolving thanks to AI, connected infrastructure, and sustainable services. Earlier reports had predicted that smart cities would also lead to cost savings of $5 trillion a year by the end of 2022.
Tatweer Misr will use its iTWO platform to create models using building information and provide estimates for the construction costs and time taken for real estate development. It will collaborate with Schneider Electric, which has provided automation for homes, industries, and data centers across 100 countries. The deal was finalized during the MENA Innovation Summit earlier this month.
Smart cities usually require infrastructures built around technology, functional and efficient mobility, energy efficiency, and sustainable development. The Egyptian government had earlier set a target of sourcing 42% of its electricity from renewable sources by 2035. Smart cities will contribute to achieving this sustainability goal, along with tech such as smart meters.