One billion dollars expect revenue from the "Bolivard" project in Egypt

A Saudi -Gyptic coalition expected the administrative commercial “Bolivard” project, located in the Egyptian “Future” City, which was launched yesterday, to gain revenue of about 100 billion pounds (billion dollars). The developed coalition of the project in the east of the Egyptian capital, Cairo, contains the businesses “His Highness Investment” and “Adir Al -Alamia” of the Saudi -Hou holding group “and the Egyptian” Medar for Investment and Urban Development. Established to develop a land portfolio of about 11 thousand hectares in the eastern Cairo region near the administrative capital, and the shareholder structure contains according to the company’s website 5 government entities. Project is 70 billion pounds, adding that the ambition does not stop at this project, and “studying our other opportunities, and our ambition is to increase the volume of our investments in Egypt. Basil Al -serafi, executive director of ‘Adyer Al -Alamiah’, said the project arose as a result of a job that started establishing strategic partnerships with senior developers in the Egyptian real estate market and supporting them with external relations of the Gulf, especially Saudi Arabia, and added that this project has an activation of the first party. be provided, ‘Partnerships for projects in the Egyptian market. “In the middle of last year,” Adir “said he intends to invest $ 400 million in the Egyptian real estate market within five years by partnership with” Hassan Allam “businesses,” Millie “of the” Al -Hy Sabour “group and” Paraguce “also read: Prices and external expansion strengthen the profits of the real estate. His attention on the new cities focus and developing it, including infrastructure and build structures, but he pointed out that “I manage” the government with its interest in the central Cairo region, in the case of appropriate opportunities to discuss it with the “highness” group. Focus. Head of the Egyptian Midar Investment and Urban Development Company, which owns the ‘future of the city’, pointed out that the ‘Bolivard’ project spans a 60 -hectare area. “Majid Al -Futtaim” attempts to develop 1,000 hectares in partnership with the Egyptian “medar” al -qusi. sent, and aimed at accommodating 500,000 people, with investments expected to be $ 14 billion. and check hotel projects in a partnership with ‘medar’.