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28-03-14

UAE'S Arabtec to establish USD40 b development in Egypt

(MENAFN) UAE-based Arabtec Holding plans to establish a new joint stock company to implement multi-billion dollar project in Egypt, according to the Emirates 24/7. The company is in negotiations with the government of the Arab Republic of Egypt to develop and construct one million units of middle-income housing in various locations across Egypt. The project will be the biggest of its kind in the region and worth over USD40 billion. The development will allow millions of Egyptians to reach full-fledged communities and other facilities, such as schools, hospitals, parks, and places of worship.