Saudi conglomerate Ghassan Holding Group (GHG) has shelved Sunday plans to develop a fully-fledged residential complex in Egypt’s new administrative capital city.
Ghassan A Al Nemer, chairman of Ghassan Holding, also announced other planned projects in Egypt such as planting oil-bearing crops such as olives over 60,000 feddans in Marsa Matrouh governorate or the Oasis and establishing some commercial centres across the country.
Al Nemer made these remarks following his meeting with Egyptian Minister of Investment and International Cooperation Sahar Nasr in Cairo.
The Saudi investor commended the procedures taken by the Egyptian government to improve the investment environment, which motivated Arab investors to inject further investments in Egypt.
Based in Saudi Arabia, Ghassan Holding has interests in gold trading, real estate, financial investments, general contracting, electronics trading, hardware, manufacturing and heavy transport wide over view of performance and greater control over distinct business functions.