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FINANCIAL NEWS
Saudi, Egypt agree on USD 3.6bn property project
25 May 2016
(MENAFN) The USD 3.6bn Mountain View iCity was proclaimed, Egypt’s biggest next project which is a joint venture between Egypt and Saudi Arabia.
Furthermore, the project reaffirms the confidence investors have in the Egyptian economy, particularly in the real estate sector.
The project will meet the needs of sustainable development in Egypt, which will include 2 square kilometers of residential units and make more than 200,000 jobs.
In addition, the development is one of the main projects in Egypt to be based on a public-private partnership, in which Mountain View will own 60 percent.
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