Tuesday, Oct 04, 2011
BEIRUT (Zawya Dow Jones)--Barwa Real Estate Co., Qatar's largest publicly-traded property developer, is looking at investing 50 billion Egyptian pounds ($8.39 billion) in its project in New Cairo city that covers an area of about 8.5 million square meters, Doha-based Al Arab daily reports Tuesday.
A delegation from Barwa has recently met with the company's executive management in Egypt to discuss allowing Egyptian contractors to participate in the project, the paper reports citing Abdullah Bin Abdulaziz, Barwa Group's chief executive.
The delegation wanted to follow up the project's first phase which comprises the project's administrative and commercial aspects and to determine the investments that will be injected in the Egyptian market over the coming years, the daily reports.
Newspaper website: http://www.alarab.qa/details.php?issueId=1389&artid=153259
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
04-10-11 0813GMT
