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FINANCIAL NEWS
UAE’s Arabtec plans to build USD40b housing project in Egypt
28 Sep 2014
(MENAFN) Arabtec, the Dubai construction company, announced that it is close to completing the planning and design stage of its USD40 billion deal to build one million homes in Egypt, Emirates 24/7 reported.
The homes will be built at 13 locations around the country on land provided free by the Egyptian armed forces, with the project expected to help Arabtec in expanding its business around the Arab region as well as boost Egypt’s struggling economy and help to resolve the housing shortage in the country
“The company will commence the project after the finalization of the planning and design stages which have been nearly completed after achieving significant progress in this regard,” The company said in a statement.
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