Egypt’s Arkan to invest 75 mln pounds for 15 projects among Ebneha Initiative

Egypt’s construction and real estate developer firm, Arkan Developers says it plans to invest 75 million Egyptian pounds ($4.2 million) to execute 15 flagships, as part of the country’s Ebneha Initiative (Build it) within 2018.

The initiative aims to battle the high increase in the cost of real estates by some investors and contractors and to build a number of affordably priced housing units at half cost for citizens, Arkan’s chairman Emad Eissa said Thursday.

Moreover, Eissa further referred that Arkan’s has carried out 10 standalone real estate projects and building in Sixth of October City and Al Andalus District in New Cairo.

“A number of these projects (real estate) will be delivered within three months,” he noted.

In 2017, the Egyptian official added that his company also implemented new projects among Ebneha Initiative to establish housing units of 75 million pounds.

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