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10-03-14

UAE's Arabtec to build million houses with the Egyptian army

(MENAFN) Arabtec Holding, Dubai's largest listed construction firm, will build one million houses with the Egyptian army under a USD40.23 billion agreement, according to Arabian Business. The project, which will be one of the biggest in the region, aims to improve and support tourism sector, amid political turmoil. The announcement was revealed in a press conference in Cairo. The financing process was not mentioned. The project will extend over 160 million square meters across 13 several sites in Egypt for lower income individuals.