Cairo – Mubasher: Egypt has signed an agreement with UAE-based Al Oroba Contracting Co to establish a tourism and hospitality project spanning 172 acres in Abu Marqeq, Marsa Matrouh with investment worth EGP 1.2 billion.
This agreement has been signed by Matrouh governor Alaa Abu-Zeid and Al Oroba Contracting chairman Ali Bin Haider.
The project will include hotels, shopping malls, apartment hotels, and villas, Abu-Zeid highlighted.
Moreover, both parties have signed a deal to operate a dates factory in Siwa upon an equitable ownership of 15 years at an annual financial value of EGP 3.2 million.
Egyptian investment ministry will bolster local investors and will celebrate new Emirati investments in Egypt, which will create numerous job opportunities, investment minister Sahar Nasr said in a statement on Thursday.
