Investment in Egypt’s housing sector hits 150 bln pounds annually: minister

Egypt’s housing and construction sector are witnessing a “major evolution”, with annual investments up to 150 billion Egyptian pounds ($8.5 billion), Minister of Housing Moustafa Madbouli said Sunday.

Speaking at the Builders of Egypt that took place in Cairo, the Egyptian minister said the next four years will witness a stronger participation by the private sector in major national projects such as the new administrative capital and New Alamein City.