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$40b Egypt Housing Project
World Economy

$40b Egypt Housing Project

Dubai-based construction company Arabtec is close to completing the planning and design stage of its $40 billion deal to build one million homes in Egypt, the company said. Arabtec originally announced in March that it had agreed with the Egyptian army to build the homes at 13 locations around the country on land provided free by the armed forces. Construction was to start in the third quarter of this year, with the first homes to be delivered in early 2017 and the whole project to be completed before 2020.

 

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