Arabtec in talks with Egypt over $40bn joint venture

March 29, 2014 11:50 am

Arabtec and the Egyptian government are in talks to set up a new joint real estate company for the development of the previously announced one million residential units in Egypt, Gulf News has reported. Earlier this month, Arabtec announced the $40bn project to build the one million middle-income housing units in Egypt. In a statement to the Dubai Financial Market (DFM), Arabtec said it “will be disclosing all developments and progress regarding the matter as per laws and regulations.”