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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…
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