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Egypt picks Arabtec for $40bn affordable housing project

: Tuesday, March 11 - 2014 @ 11:03

Dubai-based Arabtec Holding has said it has signed an agreement with the Egyptian army to build one million houses in a project worth EGP280bn ($40bn), Reuters has reported. The project will cover 160 million square meters across 13 sites in Egypt for lower income individuals. Work on the project is expected to start in the third quarter of 2014 and be completed before 2020, Arabtec said.

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Tuesday, March 11- 2014 @ 11:03 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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