Egypt’s property developer ARCO to invest 1.7bn pounds in flagships this year

Egypt’s Al Arabia Real Estate and Development- ARCO says it is planning to inject investments worth 1.7 billion Egyptian pounds ($96.1 million) into its projects within 2018.

The company also targets sales estimated at 5 billion pounds this year, ARCO’s chief executive Ayman Ibrahim told Alborsa News.

The Egyptian company is also looking forward to offering a new phase in both projects of City Stars in North Coast resort and Lavande in Sixth of October City, Ibrahim further added added.

In August 2016, ARCO unveiled that it was planned to implement City Stars North Coast project, which is set to be delivered in 2019, with investments of 2 billion pounds.