Egypt’s Al-Abd eyes $93.8 million turnovers in 2021

Egypt’s construction firm Al-Abd targets business volume up to around 1.5 billion Egyptian pounds ($93.8 million) within the next year, its managing director announced on Wednesday.

“We are currently negotiating to execute a bundle of infrastructure projects in Cairo and other governorates,” Said Fattouh said, adding that some of these works will be financed by the World Bank Group (WB).

As for the company’s more works, Al-Abd is implementing a number of housing and infrastructure flagships within the first phase of the country’s new capital, 45 km (28 miles) east of Cairo, Fattouh added.

“We plan to deliver around 36 residential buildings in the new capital at the end of 2020, at a cost approaching 570 million pounds,” he concluded.