Ora Developers invests $635mln in Egypt: Sawiris

Phase I of ZED West Sheikh Zayed project exceeded 80% in sales

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

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

REUTERS/Shokry Hussien
ArabFinance: Ora Developers has total investments of approximately EGP 10 billion in Egypt, the company’s CEO and Chairman Naguib Sawiris told CNBC Arabia on September 23rd.

He noted that phase I of ZED West Sheikh Zayed project exceeded 80% in sales.

Ora is about to sign a loan agreement with a consortium of banks, Sawiris added, referring to the previously inked EGP 1 billion credit line deal with state-run Banque Misr.

The property developer recently said it would launch a new phase of its ZED East development in New Cairo.

Copyright © 2020 Arab Finance Brokerage Company All rights reserved. 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 Construction