Egypt’s Al Ahly for Real Estate mulls expansions into Africa

A sovereign entity is offering Egypt’s Al Ahly for Real Estate Development for a greater presence in some African countries, Al Ahly’s chairman Hussein Sabbour told Amwal Al Ghad.

Sabbour, who is also heading the Egyptian Businessmen’s Association, said his company plans to coordinate with El Nasr for Import and Export Group to expand businesses into the African market. El Nasr enjoys a huge storage of lands and architectural facilities assets since its inception in the 1960s, the Egyptian official noted.

Hence, Al Ahly has sent a delegation of consultants and experts to a number of African countries before the start of Eid al-Adha holiday, seeking to study the available investment opportunities there, Sabbour said.

He further expected that his company is likely to start carrying out projects in some Nile Basin countries like Guinea soon.