• Register
cairo-view

SECON boosts capital by $245m

: Saturday, June 28 - 2014 @ 01:53

Saudi Egyptian Construction Co (SECON), owned by Egypt and Saudi Arabia, has announced a four-fold rise in its capital, or $245m, to build houses in Egypt, Reuters has reported. Saudi Arabia would inject $124m dollars into SECON, while Egypt would contribute 100 feddans (103.8 acres) of land in three cities, worth about the same amount. The investment would be used “to establish a large number of housing units to encourage initiatives to build medium-income housing units,” Egyptian housing minister, Mustafa Madbouly, told reporters, without providing specifics.

Today's Top Stories

Posted by

Saturday, June 28- 2014 @ 1:53 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.

AME Info Services





Business DirectoryVIEW ALL

Search by name

Search by industry

Browse alphabetically



JobsVIEW ALL

Search for jobs

Latest Jobs