ECC branching into real estate

The Egyptian Contracting Company (Moukhtar Ibrahim) will begin developing its first project in Obour in October with investments close to EGP 800 mn, reports AMAY. The 55k sqm project is expected to be complete in three years’ time and comes as part of the firm’s strategy to exploit its existing land bank and diversify its revenue streams. The project is expected to draw in c. EGP 300 mn.