Egypt signs 4 contracts for PPP projects worth $25bn

Egyptian Ministry of Housing has signed four contracts of large investment projects in real estate sector with the total cost of 200 billion Egyptian pounds (US$25 billion).

Assistant Minister of Housing Khaled Abbas told Amwal Al Ghad Tuesday that the projects will be implemented using Public-Private Partnership (PPP) system.

The ministry has signed two contracts with Mountain View in addition to two contracts with Arabia Group for Development & Urban progress company and Palm Hills.

He clarified that project’s Memorandums of Understanding (MoUs) were signed in the side lines of Egypt’s Economic Development Conference (EEDC) that wad held on March 2015 in Sharm El Sheikh.

Abbas added that housing ministry is set to present a number of investment projects – mostly in Cairo- in real estate sector within the upcoming period to the real estate investment companies.

Housing  ministry is currently studying the offers submitted by the companies to participate in the PPP projects issued by the government, the official noted.