With more lands up for grabs next year, ARCO for real estate development is pursuing investment in the new Administrative Capital City, reported Al Borsa.

“It is considered an investment haven in the upcoming period,” ARCO CEO Ashraf Salman said, explaining the company’s eagerness to set foot in the new capital once the Egyptian government offers land plots as promised. Salman also calls for the government to minimize if not avoid of its traditional bureaucracy, claiming the “investment rate will increase by 30%.”

“ARCO also has interest in Upper Egypt with a developmental project that is scheduled to be announced during the first quarter of 2017,” Salman stated.

According to Al Borsa, in the company will announce its international expansion plan with investments in about 15 countries. It also seeks “to join AUR Capital Investment Fund instead of being a shareholding company under Golden Pyramids Company umbrella,” added Selman.