UAE And Egypt Plan To Build Half Billion Dollar Complex In Cairo
Date
7/13/2024 10:19:20 PM
(MENAFN- AzerNews)
By Alimat Aliyeva
The Egyptian development group Safwat al-Qalioubi and the
investment company KSH from the UAE signed an agreement worth about
24 billion Egyptian pounds (approximately 500 million dollars) on
the construction and development of a complex of residential and
commercial buildings in the northern part of the Egyptian capital
Cairo, Azernews reports.
"A new joint Real estate project will be implemented in the
Tanash district, located on the banks of the Nile River in the
northern part of Cairo," the message reads.
According to the information, three skyscrapers and a five-star
hotel are planned to be built on an area of 20,000 square meters,
which will be completed in four years.
It should be noted that on February 23, Egypt and the UAE signed
an investment agreement worth $ 35 billion on the construction of
the Ras al-Hikma resort on the Mediterranean coast, where it is
planned to build hotels, entertainment areas and specialized
business districts, as well as an international airport. According
to the Egyptian government, the resort will attract at least 8
million tourists to the country.
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