Alhafda Egypt-Kuwait for Construction and Décor is to invest a sum of EGP 1 bn on residential projects at the Administrative Capital and the new cities in 2017, Al Borsa reports.

Alhafda partners with Kuwaiti investors to develop a residential project “in Giza governorate worth EGP 400 mn on a land area of 25 acres,” Chairman Hussein Mohammed Issa said.

The Chairman of the Board of Directors of Alhafda estimates that total investment in real estate market in Egypt amounts to EGP 400 mn apart from the investments scheduled this year, in addition to USD 6 million in projects implemented by the State of Kuwait.