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Egypt, Saudi Arabia Discuss Investment Opportunities in New El Alamein City, Administrative Capital
Source: 2/3/2018

Housing Minister Moustafa Madbouli discussed with a Saudi delegation from Al Tayyar group, headed by CEO Abdullah Bin Dawood, investment opportunities in New El Alamein City and the New Administrative Capital, said the Housing Ministry in a statement.

During their meeting, Bin Dawood said Egypt is a major investment hub, underlining that his company is seeking to boost its investments in Egypt.

Madbouli welcomed the Saudi company's interest in doing business in New El Alamein City and the New Administrative Capital in particular and beefing up investments in Egypt in general, the statement added.

The minister further underlined that a cooperation protocol was signed with Marriott International Group to build tower hotels in New El Alamein City, northwest of Cairo, the statement read.

The minister noted that other protocols will be signed in the coming days, it added.

The Housing Ministry, in cooperation with China State Construction Engineering Corporation (CSCEC), will build 20 towers in the New Administrative Capital, including a skyscraper, set to be Africa's tallest building, read the statement.

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