Egypt’s Holding Company for Construction and Development (HCCD) provided a finance for Nasr General Contracting Company-Hassan Allam and Egyptian Contracting Company – Moukhtar Ibrahim during 2016. The finance was estimated at more than 80 million Egyptian pounds ($4.4 million).
Mahmoud Hegazy, HCCD chairman and managing director, said Tuesday that his company has supported Moukhtar Ibrahim’s plan to purchase modern equipment worth 36 million pounds.
The Egyptian official further added that his company has enabled the two firms to obtain mega lands portfolio in Cairo and Alexandria governorates with market value worth more than two billion pounds.
HCCD charged Hassan Allam and Moukhtar Ibrahim companies with expanding in real estate investment projects to achieve additional profit returns, Hegazy referred.
On the other side, the total volume of Mukhtar Ibrahim’s contracts reached eight billion pounds while its business volume registered two billion pounds in financial year 2016/2017.
Hassan Allam’s business volume hit 2.011 billion pounds during fiscal year 2016/2017.