Egyptian officials showcased new investment opportunities in the country's real estate sector to Saudi investors during the second Saudi-Egyptian real estate forum in Cairo on Sunday.
In his speech at the forum, Egypt’s Minister of Public Business Sector Hisham Tawfik emphasised the depth and strength of economic relations between the two countries while highlighting investment opportunities.
The opportunities highlighted in the Ministry’s presentation included:
- Heliopark land on the Cairo-Suez desert road near the New Administrative Capital
- Maryland Park and Granada Palace in Heliopolis
- A 32-acre plot owned by Delta Steel in Mostorod
- Six million square metres of land owned by the Iron and Steel Company in Helwa
- Savoy Hotel land in Luxor
- Old cotton gins owned by the ministry for use as logistics centres
- Revival of the historic Grand Continental Hotel in Khedive Cairo
- Equity stakes (20 to 30 percent) in a new asset management company planned for bundling seven historical and profitable hotels owned by the ministry.
The minister spoke on opportunities in the field of animal husbandry at the South Valley Company's farm in Toshka, which includes a veterinary hospital and one of the largest automated slaughterhouses in Egypt.
He also touched upon the joint venture opportunities for manufacturing electric vehicle components in line with ministry's plans to promote projects to produce electric sedans, microbuses, tuk-tuks, as well as battery and control systems in the country.
The event was organised by the Egyptian Businessmen Association in cooperation with the Federation of Saudi Chambers.
(Writing by Eman Hamed; Editing by Anoop Menon)