Rooya to invest 2-3 bln Egyptian pounds in projects next year

Egypt’s property developer Rooya Group unveils it plans to pump investments ranging between 2 billion and 3 billion Egyptian pounds ($112.4 million-$169 million) in its projects within 2018.

Hisham Shoukri, Rooya’s chairman, said Tuesday that his company also seeks to start executing its project Stone Park compound in New Cairo early 2018, with total investments exceeding 7 billion pounds.

“The commercial and administrative project will be established on a space of 600,000 square metres,” Shoukri further added.

Moreover, the Egyptian official referred that Rooya is set to issue 30 percent of its shares in Egypt’s stock exchange within the first quarter of next year.