Mariout Hills Developments, a subsidiary of Mariout Hills Group, has revealed that the company injected initial investments worth EGP 500 mn in New Alamein, intending to expand into new cities in the near future, state-owned Al Ahram Al Iktisadi news website reports.

Ahmed Hassan, chairman of Mariout Hills Developments, told Al Ahram Al Iktisadi that the company adopts a new innovative technology called “Eco-Housing” that allows homeowners to save money by reducing energy and water costs, pointing out that Mariout Hills has conducted several pieces of research to find out means of purifying water to provide clean and low-cost water.

In addition, Mariout Hills is currently establishing the largest solar power plant in Aswan, in cooperation with the Ministry of Defense and Military Production, the chairman noted.

According to Hassan, the company’s plans come in line with the state’s efforts toward attracting tourism and creating a positive environment for increasing foreign investments in the Egyptian market.