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UAE’s Arabtec, Egypt agree on construction of 100,000 houses

by ChemOrbis Editorial Team -
  • 03/04/2015 (16:12)
According to media reports, United Arab Emirates-based construction company Arabtec and Egypt’s Ministry of Housing have agreed on the first phase of a plan calling for the construction of 1 million houses in Egypt. The first phase reportedly will include building 100,000 units in the El Obour and Badr districts of Egypt. The total value of the transaction, which covers 1 million units, was reported at $36.70 billion (EGP280 billion).

The parties did not give any specific information on how many phases the project would take or what the timetable would be for building the remaining 900,000 units.
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