Al Ahly studies partnering with Kuwaiti Manazel for Upper Egypt’s projects

Egypt’s Al Ahly for Real Estate Development says it is studying offers to develop various residential flagships in partnership with Kuwaiti property firm Manazel Holding in a number of Upper Egypt’s governorates.

Al Ahly has earlier received offers from Upper Egyptian governorates to develop a bunch of land plots and execute mega residential projects there, the firm’s chairman Hussein Sabbour told Amwal Al Ghad on Monday.

“We have prepared studies for the current investment opportunities in Upper Egyptian governorates,” Sabbour further said.

Al Ahly is currently carrying out four residential projects in Mostakbal City in New Cairo on spaces of 380 feddans, he said, adding that the accomplishment rates range between 50 percent and 75 percent.