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FINANCIAL NEWS
Egypt considers USD 113mn loan to speed up development
24 May 2016
(MENAFN) Egyptian property Medinet Nasr is considering a USD 113mn loan in order to speed up development at one of its plots.
Moreover, the firm posted its first quarter net profit, which jumped by 89.6 percent to USD 7.71mn.
Additionally, the issued loan would go toward speeding an “infrastructure build-out” in order to start phase one of development.
On the other hand, units from the project are predicted to be finished before the end of 2019.
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