<A number of Saudi investors and businessmen are embarking on the establishment of twenty new development projects in Egypt, with a total investment of 60 billion pounds.
This was revealed by Dr. Mustafa Madbouly, Egyptian Minister of Housing, Utilities and Urban Communities.
He added that meetings have been held with a large number of Gulf investors, and memoranda of understanding will be signed within days, to start working on detailed and financial studies for these projects, before signing contracts for these projects during the next economic summit to be held in March next year.
On the contribution of Saudi investors in these projects, he explained that the contribution of Saudi investors is large and may exceed 60 billion pounds, pointing out that the Urban Communities Authority will enter as a major partner with these investors, which will generate a large return to the Authority on an ongoing basis allowing the establishment of many other projects.
Madbouly pointed out that the implementation of these projects will take between 5 to 7 years, and that these projects are located in a number of new cities, the most important of which are 6 October, New Cairo, New Cairo and Sheikh Zayed. And Obour. The Ministry of Housing and Utilities in Egypt has begun the actual steps for the economic summit conference called by the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz immediately after the assumption of President Abdel Fattah al-Sisi, and the Egyptian government has prepared a file to discuss investment prospects in Egypt, and a large number of development projects to present to the conference, in the fields of transportation, roads, bridges, railways, tunnels, energy and electricity, as well as projects in oil and logistics projects within the development of the Gulf of Suez region.
He added that meetings have been held with a large number of Gulf investors, and memoranda of understanding will be signed within days, to start working on detailed and financial studies for these projects, before signing contracts for these projects during the next economic summit to be held in March next year.
On the contribution of Saudi investors in these projects, he explained that the contribution of Saudi investors is large and may exceed 60 billion pounds, pointing out that the Urban Communities Authority will enter as a major partner with these investors, which will generate a large return to the Authority on an ongoing basis allowing the establishment of many other projects.
Madbouly pointed out that the implementation of these projects will take between 5 to 7 years, and that these projects are located in a number of new cities, the most important of which are 6 October, New Cairo, New Cairo and Sheikh Zayed. And Obour. The Ministry of Housing and Utilities in Egypt has begun the actual steps for the economic summit conference called by the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz immediately after the assumption of President Abdel Fattah al-Sisi, and the Egyptian government has prepared a file to discuss investment prospects in Egypt, and a large number of development projects to present to the conference, in the fields of transportation, roads, bridges, railways, tunnels, energy and electricity, as well as projects in oil and logistics projects within the development of the Gulf of Suez region.
The Egyptian government has prepared a dossier to discuss investment prospects in Egypt.
