Golden Gate Real Estate partners with Kuwaiti investors to establish EGP 200 mn company

Egypt’s Golden Gate Tourism and Real Estate is partnering with Kuwaiti investors to establish a EGP 200 mn company for touristic and real estate development, as well as a media production company, Al Borsa reports. Egyptian investors will collectively hold a controlling stake of 51% of the new venture and the partners are already in talks to acquire land in Cairo and on the Mediterranean Sea coast for planned residential and touristic projects, Golden Gate’s Chairman Moataz El Sisi tells the newspaper. The identity of the Kuwaiti investors was not revealed.