Al Ezz Group plans to inject EGP 13bn investment to launch several projects in real estate, industrial, and tourism sectors in Egypt over the coming period, Invest-Gate reports.

Moataz Moharam, Chairman of Al Ezz Group, announces the company’s investment plan in Egypt, noting that the company operates mega projects in GCC, Europe, and China in the real estate development, construction, and manufacturing sectors.

Moharam states that launching new investments in Egypt comes along with the company’s economic and investment vision adopted by Egypt’s President Abdel Fattah el Sisi that aims to support investments in vital economic sectors and major national projects.

Moharam notes that this is the perfect timing for the company to pump more investment in the Egyptian market, which enjoys more catalysts that support investments. “The Egyptian government is also working on attracting more capitals and paving the way for the private sector to inject more investments in accordance with Egypt’s plans for sustainable development 2030,” he says. The chairman further notes that the company is 100% Egyptian and its financial structure does not include foreign shareholders.

The company will uncover its first project in the New Administrative Capital (NAC) in the coming few days, in addition to another tourism project in Hurghada. Al Ezz Group will also inject more investments in real estate and tourism projects in 2022.

Moharam points out that the group’s affiliated companies have great experience in constructing giant towers, a technology that the state seeks to resettle in Egypt during the current stage, which gives the company a great competitive advantage, enabling it to fulfill its projects with the necessary efficiency and keep pace with time acceleration in major national projects.