Egypt’s Lozan Urban Development Group launches Methaq Development with investments of EGP 5 bn, Invest-Gate reports.

The new entity is established by an Egyptian-Saudi partnership to develop several urban projects in Egypt in the coming period.

“This new partnership aims to expand the Group’s investments in Egypt in light of the great urban development witnessed by Egypt in all fields under the leadership of President Abdel Fattah al-Sisi,” Abdullah Al-Amoudi, Regional President of Methaq Development, comments.

“This partnership confirms the strength and performance of the Egyptian economy and its ability to attract more foreign and Arab investments,” Adel Abdel Moneim, Chairman of Lozan Urban Development, says.

Mahmoud Zayed, Head of the Marketing Sector of Lozan Group, reveals that the group seeks to provide a variety of products in its projects in New Cairo and the New Administrative Capital.