According to the news published in Egypt's official news agencies, it was stated that the "largest direct investment agreement in the country's history" was signed with the participation of Egyptian Prime Minister Mustafa Madbouli.
The agreement, signed at the government center in the capital Cairo, reportedly indicates that the investment will be carried out in the "Ras el-Hikme region in the northwest of the country."
It was stated that the agreement was signed by Egypt's Housing Minister Asim el-Cezzar and UAE Investment Minister Mohammed Hasan es-Suveydi.
Within the scope of the project, which will be carried out in the fields of tourism, urbanization and real estate, it is planned to develop the region through the company that will bear the name of the Ras el-Hikme region.
It was reported that the investment will be made in two parts within the scope of the project, the first part will be worth 15 billion and the second part will be worth 20 billion, and Egypt will earn a 35 percent profit from the investment.
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