Saudi Binladin Group’s Egypt investments worth 1bn Egyptian pounds

Al- Khairat Real Estate Development Company, the Egyptian unit of Saudi construction giant Binladin Group, has total investments in Egypt worth around one billion Egyptian pounds (US$ 124.5 million), its managing director said.

Nasr Abdul Aal told Amwal Al Ghad Wednesday that his company does not intend any current expansions in Egypt.

Al- Khairat owns a food industries factory in 10th of Ramadan City with investments amounting to 45 million pounds and four production lines, Abdul Aal said.

Additionally, Abdul Aal said Al-Khairat’s businesses in Egypt also include a number of agricultural projects in the Desert Road and Nubaria on an area of 1,000 and 600 feddans, respectively dedicated to grow olives, grapes, and wheat.

Moreover, Al-Khairat Company is carrying out some real estate projects in the 6th of October City and New Cairo.