El-Far: Naeem’s Real Estate Portfolio Hits EGP 500 Mln By July

Youssef Medhat El Far, Naeem Holding Managing Director, said the company’s real estate portfolio has reached EGP 500 million by the end of last July.

El Far added that real estate is one of those sectors in which prices would not reversely affected by political incidents but instead they would go through a state of recession.

He mentioned that Naeem Holding (NAHO.CA) is currently running the administrative buildings project in Smart Village. The project shall be completed in 2014, of total costs worth EGP 1.2 billion in coordination with Banque Misr,  Export Development Bank of Egypt (EDBE) and Ahli United Bank (AUBE).