Saudi Fawaz Alhokair arm hopes for more investments in Egypt

MARAKEZ for Real Estate Investment, the Egyptian arm of Saudi retailer conglomerate Fawaz Alhokair, is looking to pump more investments in the Egyptian market, its chief executive said on Thursday.

The anticipated new investments are triggered by the recent economic reforms implemented by the Egyptian government, Ahmed Badrawi said at a meeting with door-knock mission members in London.

Authorities in Egypt strongly support real estate investors to take part in various projects such as the new administrative capital, Badrawi said.

MARAKEZ had earlier established a commercial centre in Tanta on a space of 135,000 square metres, he added.

The commercial centre is considered the first of its kind in Nile Delta governorates, which aims to provide around 30,000 direct and indirect job opportunities, Badrawi said.