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Country-Plan Projects and Tenders |
| 9720 Subject |
74 مليار جنبه مصري لمشروعين للاستثمارات العقارية ورواج متوقع لسوق مواد البناء Two recent announced real estate development projects involving L.E. 74 billion [about $ 12.4 billion] estimated investments opening (promising hopes) for the country construction & construction materials industry to take an upward curve. |
| Date Published | Saturday, December 03, 2005 |
| Source Name | Asharq Al Awsat |
| Location Name | Cairo |
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Description Date Format: (mm/dd/yyyy) |
An interesting interview with Eng. Ibrahim Mehlib, Chairman & CEO of ARABCO - Arab Contractors, Osman A Osman & Co., published recently in the media, centered on two recent announced mega real estate development projects. That extended to the Future City Project, launched earlier by ARABCO to develop 11,000 feddans land [about 46.2 million M2] at New Cairo Fifth Complex under L.E. 14 billion estimated investments & Madinati [My City] project launched earlier by Talaat Mustafa Group to develop 8,000 feddans land [33.6 million M2] to the east of Cairo under L.E. 60 billion estimated investments. According to Eng. Mehlib, Future City Project would be executed by a consortium grouping all three state owned banks [National Bank of Egypt, Banque du Caire & Banque Misr] holding some 51 % share [worth L.E. 3.6 billion equivalent to ARABCO indebtedness thereto] and ARABCO holding the remaining 49 %. Worth indicating is that ARABCO has released an international competition among architectural and engineering consultancy offices to prepare master plans for the Future City. Both projects are expected to give a strong push to the country construction & construction materials industry. |
| Sectors Section |
Beneficiary Sectors - Construction Projects Integrated works |
