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FINANCIAL NEWS
SECON to inject EGP2bn in Egypt this year
10 Jan 2017
(MENAFN) The Saudi Egyptian Construction Co. (SECON) plans to inject more than EGP2bn into its projects in Egypt amid this year.
In addition, the firm will continue applying its recent projects, involving Nile Tours on Maadi Corniche, Riyadh Secon in New Cairo, Dorra Assiut in New Assiut and others.
Moreover, the company raised its capital by USD243mn in 2015, enhancing it to USD318mn, while the Saudi government paid its 50pct share in cash.
However, the real estate sector in Egypt is facing many challenges in the recent period on the back of the flotation on the pound.
M
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