|25 February, 2020

UAE's MBF Group mulls injecting $90bln investments in Egypt

Building six investment cities in Suez Canal axis

Construction workers are seen at a site on the outskirts of Cairo, Egypt, October 21, 2019.

Construction workers are seen at a site on the outskirts of Cairo, Egypt, October 21, 2019.

REUTERS/Shokry Hussien

UAE – Mubasher: Emirati MBF Group Holdings and Establishments currently considers injecting EGP 300 billion investments in Egypt by building six investment cities in Suez Canal axis, according to the Emirates News Agency (WAM).

The chairman of MBF, Sheikh Mohammed Al Qassimi, said that the group will build maritime, tourist, financial, residential, recreational, and medical cities in cooperation with an alliance of specialised Egyptian and international companies as well as banks, the state-run news agency reported on Monday.

To supervise the establishment of the cities, the group will inaugurate an office at ‘Cairo Festival City’ in the coming period.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Business