Beirut (APD) - Cairo-based Tabarak Group announced that it will showcase $390 million worth of North African real estate projects in Kuwait.
The project, all of which are currently under development, include the $200 million Tabarak City in Cairo's Al Maadi district with 3,200 residential units and the 120,000 square meters Maadi Heights project with an estimated cost of $100 million, Tabarak's deputy chairman, Ashraf Abdulsattar told APD.
The company will introduce its landmark projects in Egypt and Libya to investors in the Real Estate and Investment Show that will be held from April 8 to 10 in Kuwait's Marriott Hotel.
Also on display will be the company's $70 million Holiday Inn Fantasia Resort on the Red Sea which includes villas, chalets and a 140 room and suites hotel, and a $20 million residential project in Libya that will include 38 four-floor buildings.
Tabarak will also seek to attract investors to the Janat development project on the highway to Alexandria which is still under design. This 2,000 hectares residential project will be composed of villas and ranches with a Mexican flair.
In November 2005, Qatar International Islamic Bank signed an agreement with Tabarak Group to finance the purchase of residential units consisting of villas and apartments in Tabarak City in Cairo and in other projects of the group in Egypt.
Established in 1977, Tabarak Group is involved in construction, real estate investment and development; exporting and pharmaceuticals. It has branches in Egypt, Saudi Arabia and Kuwait. [TS]
By Nadim Issa, APD Staff Writer in Beirut
© APD (Arab Press Digest) 2006
