Egypt activates 5 housing MOUs worth $21.7mn

Egypt’s cabinet has concluded five memorandums of understanding (MOU) in housing sector with investments worth 170 billion Egyptian pounds ($21.7 million) over seven years, Ashraf Salman the minister of investment said Saturday.

The MOU’s have been signed during Egypt Economic Development Conference (EEDC) that took place in Sharm El-Sheikh on March 2015.

The minister added that Egypt has already completed number of the deals on the ground. In addition, the ministry’s strategy aims to attract more local and foreign investors.