Housing Minister Moustafa Madbouli said the Housing Ministry signed on Sunday 15/3/2015 a memorandum of understanding (MoU) with the consortiums of Saudi Seaspan and Egyptian Mountain View companies.

The MoU aims to establish an integrated urban project with investments reaching 5.7 billion dollars.

The first project will establish a 500-feddan project in New Cairo with investments that reach three billion dollars, the minister said, adding that another 470-feddan project costs 2.7 billion dollars.

MENA