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Posted On: 12 August 2009 11:47 am
Updated On: 12 November 2020 02:09 pm

Barwa Real Estate to invest $9bn in Egypt

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Barwa Real Estate plans to invest more than 50bn Egyptian pounds ($9bn) in the coming few years in Egypt to establish an integrated mixed-use community project over more than 2,000 feddans in New Cairo. This came following a clarification sought by the Management of the Qatar Exchange (QE) on the company’s most recent published news concerning the establishment of a mixed-use community over 2000 fedans in New Cairo, Egypt. Barwa added that the first and the most essential phase of the execution process of pumping in new investments was kicked off through signing a cooperation agreement for the project management preliminary phase of the project between Barwa New Cairo for Real Estate Investments and Qatar Project Management. Engineer Tarek El-Shazly, CEO of Barwa New Cairo, and Engineer Nasser Abdul Rahman Kamal, CEO of Qatar Project Management, signed the agreement at a ceremony attended by a number of officials from the two companies as well as media representatives.