Egypt signs MOUs with developers for $12.7 bln in projects-minister

SHARM EL-SHEIKH, Egypt (Reuters) – Egypt has signed preliminary deals with four Arab real estate developers for four projects worth a total of $12.7 billion, the country’s housing minister said on the sidelines of an economic summit on Sunday.The Arab world’s most populous country faces a persistent housing shortage, with population growth outstripping new construction of affordable housing units.Moustafa Madbouly said that the housing ministry had signed MOUs with Egypt’s Mountain View and Saudi Arabia’s…

Read More