The Emirati MBF invests 300 billion pounds in Egypt

According to the Emirates News Agency, the company is now forming an international alliance that includes specialized international and Egyptian companies and banks to implement the project.

The group announced its intention to open an office in Cairo Festival City Egypt during the next few period to oversee the necessary procedures for the establishment and construction of these cities and to follow administrative and coordination steps regarding these projects.

Sheikh Mohammed bin Faisal Al Qasimi, Chairman of the MB Group, said that the cities will be implemented within the axis of the Suez Canal, and will include 6 navigation, tourism, financial, residential, recreational and medical cities, factories, high towers and power stations.

He stressed the importance and feasibility of investment in our second country, Egypt ... and encouraged to move forward in this direction because of Egypt's promising investment opportunities and the absorption of its economic market for various types of projects.

He attributed the selection of these projects to being located within the sectors that currently attract investment ... pointing out that Dubai's experience in establishing these projects will be benefited.

Sheikh Muhammad bin Faisal Al Qasimi announced that most of the parties of the international coalition that will implement these projects have been identified, explaining that some details will be agreed upon during the coming period and then the implementation of these projects, which will be in stages and according to a timetable that extends for years.

He stressed that Egypt is living in an economic boom, which is a very encouraging and stimulating environment for investment at the present time, as it witnesses political and economic stability ... indicating that the investment climate in Egypt is characterized by the ease, flexibility and speed of achievement at the present time.

He pointed to the emergence of Egypt as a market of great importance in the region and this is reinforced by the arrival of dozens of international brands to it along with a high expansion in retail sales in the past two years and attributed this in part to the huge size of the population of Egypt.

He praised the efforts of the Egyptian leadership, which directed to provide all means of encouraging investment and attracting more international or Arab investments, which did not have a great impact in boosting the wheel of development in fraternal Egypt and achieving remarkable progress in this field.

And the price of the great role played by the Egyptian government, which managed in a short period of time to move the wheel of the economy and achieve remarkable growth alongside it, and made strides in terms of facilitating investment procedures and providing the appropriate environment for it.