Government to resume Talks with Arabtec next week

The Ministry of Housing is to resume its negotiations with representatives of UAE developer Arabtec next week, minister’s aide for technical affairs Khaled Abbas said Monday.

The talks will focus on Arabtec’s planned project to carry out one million homes for middle-income citizens in Egypt.

Emirati Arabtec has announced March 9 this year that it would carry out the one million homes scheme in cooperation with the Armed Forces in favour of low-income citizens. Yet, the developer changed its statements saying the project would be in cooperation with the ministry of housing to serve medium-income citizens.

Speaking to Amwal Al Ghad, Abbas said the reason behind the delay in signing the final contracts with Arabtec is the continuation of drawing up the legal frameworks for the contracts.