The new lines serve the 8th industrial zone in the city which includes 1,076 plots dedicated to different activities.
The deal paves the way for the integration of the next stage of brokerage standards in Egypt and for the provision of an exceptional customer experience.
The CEO of Arqa, Ahmed Gamal Al-Dein, adds that the partnership with ACE Moharram-Bakhoum is a strong addition to the project, as the company enjoys a real estate product with all operative elements.
Chairman of IL Cazar Developments, Nader Khozam, notes that the company continues to direct more investments into the project's construction, despite challenges imposed by high prices of building materials and high construction costs.
CIB acts as the exclusive financial advisor, issuance manager, general arranger, promoter, and co-underwriter of the transaction.
The company is planning to launch a series of real estate projects in East and West Cairo.
The minister reveals that the unit is set to supply electricity to other distribution units soon.
For his part, the Chairman of FDWSC, Mohammed Al-Naggar, notes that projects are underway in the governorate under the Decent Life initiative with a value of EGP 1.615 bn.
The city includes a free zone and a used car sale area, the agency complex area, traffic offices, car showrooms, alongside other service facilities.
The chairman praises the fruitful cooperation with officials at the New Urban Communities Authority (NUCA) and the 6th of October City Development Authority in the implementation of the project.
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