Cairo-Mubasher: Arabtec Holding is going ahead with its negotiations with the Egyptian government over the 1 million-unit project in Egypt, Chairman Mohamed Thani Al Rumaithi said on Monday.
He told Mubasher that the developer submitted a new offer to the government to build 13,000 units in the first phase of the project.
"We are still awaiting the Egyptian housing ministry's reply," the chairman said.
He added that the details of the new offer will be announced in the next days.
Moustafa Madbouly, minister of housing, earlier said the government is talking with the developer over building 10,000 units rather than one million.
Translated by Abdul Maguid Aboshahla
