Orascom Development to Build Residential Project in Senegal

Monday, 28th November 2016

Orascom Development Holding will be finalizing an agreement with the Senegalese government to build a new project, similar to the company’s previous project Haram City, according to Samih Sawiris, the company’s CEO.

The project will be targeted towards citizens with low or limited income, added Sawiris in the American Chamber of Commerce conference dubbed “Sustaining the Real Estate Industry in Egypt”.

The total investment cost for the project is expected to range from $ 400 mn to $ 500 mn; whereby the company will be pumping $50 mn worth of investments into the project, with the remaining investment costs to be covered through unit sales.

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