19.4 C
December 10, 2023
Egypt Bulletin

AEEE Capital to construct 500-acre project in Cairo

AEEE Capital Holding & Advisory Group Inc (AEEE) signed a $650 Million deal to complete development and construction management of a 500-acre Phase II sector of the New Capital East of Cairo. Part of the upcoming improvements include a state-of-the-art call center, residential town homes, luxury villas, mid-rise apartments, and studios.  

AEEE Capital to construct 500-acre project in Cairo
Such projects ensure that the boom in the local real estate cycle continue for at least another decade. Easier access to financing, significantly lower interest rates and high demand for a more suburban lifestyle have all contributed to this boom.With the Egyptian government successfully tackling inflation, AEEE’s phase II projects expect to generate more than 275,000 jobs in the construction industry over the next six years.

Related posts

OFID signs deal to co-finance road network in Bangladesh

ADNOC invests over $764 million in drilling-related services

Masdar wins bid to build $174 million solar project in Armenia

$750 million Emirates NBD bond listed on Nasdaq Dubai

Dubai real estate transactions cross AED4.1 billion in a week

Danish Government confirms official participation at Expo 2020 Dubai