Orascom Construction to build EGP 636 mn HDB HQ in new capital

Orascom Construction signed an agreement with the Housing & Development Bank (HDB) on Sunday to construct the bank’s headquarters in the new administrative capital, the local press reports. The building is estimated to cost EGP 636 mn, and will be financed by the bank’s equity, which exceeds EGP 5 bn. The new building is due to be completed within 18 months.