2024-07-10 05:43:23
Egyptian and Emirati companies signed a strategic partnership contract, which is considered one of the largest real estate development projects in Egypt.
According to Egyptian and Emirati media, “the contract was signed between KSH Investment Company and the Egyptian SKG Holding Company, owned by Egyptian businessman Safwat Al-Qalyoubi.”
According to the information, “the partnership between the Egyptian and Emirati sides aims to enhance cooperation between the two countries in the real estate sector to establish a project in the “Tanash” area in Cairo overlooking “Warraq Island” on an area of 20 thousand square meters.”
According to the information, “the value of developing the project amounts to 24 billion Egyptian pounds (equivalent to 500 million dollars), and includes the construction of three high-rise residential and commercial towers and a five-star hotel. The project is expected to be completed within four years.”
“This project is a major step towards enhancing cooperation between Egypt and the UAE in the real estate sector,” said Egyptian businessman Safwat El-Qalyoubi, Chairman of SKG Holding Egypt, adding that “the project will introduce a new concept of modern living by providing integrated residential and commercial units, in addition to a luxury hotel that meets the needs of local and international visitors. This partnership reflects international confidence in the Egyptian economy and its future prospects.”
He explained that “this project represents an important addition to the infrastructure in the Tanash area, and will contribute to improving the quality of life for the residents of the area and the surrounding areas. It also enhances the strong cooperation between Egypt and the UAE in the field of investment and real estate development.”
The two companies were represented in signing this agreement by Abdul Jalil Abdul Rahman Al Balooki, Managing Director of the Private Department of His Highness Sheikh Mohammed bin Khalid Al Nahyan and KSH Investments Company, Dr. Ahmed Mansour, CEO of the Private Department of His Highness Sheikh Mohammed bin Khalid Al Nahyan and KSH Company, and Safwat Al Qalyubi, Chairman of the Board of Directors of SKG Holding Company.
Last updated: July 9, 2024 – 19:41
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2024-07-10 05:43:23