Egypt inks MoU to establish urban project with $5.7bn investments

The Housing Ministry signed on Sunday a Memorandum of Understanding (MoU) with the alliances of Saudi Seaspan and Egyptian Mountain View companies, Housing Minister Moustafa Madbouli told MENA.
The MoU aims to establish an integrated urban project with investments reaching 5.7 billion dollars.
The first project will establish a 500-feddan project in New Cairo with investments that reach three billion dollars, the minister said, adding that the other 470-feddan project costs 2.7 billion dollars.
This came on the sidelines of the Egypt Economic development Conference (EEDC) held in Sharm el Sheikh.