Saudi developer Emaar Al Baseeta is planning a EGP 400 mn real estate project in New Cairo,CEO Hisham Al Shafei told Al Borsa. The company has purchased 30 feddans in the area and is planning on raising funds from Saudi investors for the project. This is the company’s first foray into Egypt’s real estate market. The firm has also bought land in Madinet Nasr, Mansoura and 10 Ramadan for residential projects to be implemented in 2018.

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