Moukhtar Ibrahim eyes EGP 500mn sales from two lands this year

Egypt’s construction firm Moukhtar Ibrahim says it is seeking to post 500 million Egyptian pounds ($28 million) from selling two land plots in various areas in El-Salam and Helwan cities within this year.

Moukhtar Ibrahim firm had earlier sold two land plots worth 150 million pounds in El-Salam City, at the outskirts of Cairo, an official source in the state-owned firm told Amwal Al Ghad on Monday.

“Our strategy focuses on making the best use of all the affiliated land plots in real estate investment activity, in partnership with a number of companies that operate in the public sector,” the source said.

Moukhtar Ibrahim is teaming up with a bunch of the state-run investment facilities to develop two real estate projects within the next period, he added.