INVESTMENT WATCH- Al-Futtaim Real Estate plans to invest EGP 30 bn (USD 1.7 bn) in its Egypt project Cairo Festival City by 2023, nearly double what it had originally planned, Managing Director Ashraf Ezzeldin told the press yesterday, Reuters reports. The company, which had set an initial investment budget of EGP 15-17 bn for Egypt, will break ground on four new projects worth EGP 7.5 bn this year that will be complete in three-years’ time, Ezzeldin said.

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