Egypt, Kuwait launch real estate company Modon with US$317m investment

EGYPT – Egyptian and Kuwaiti investors have partnered to establish a real estate development company, Modon, and intend to invest about EGP 1 billion (US$63.51m) in a hotel project in the New Administrative Capital and New Alamein. Modon has huge investments exceeding EGP 5b billion (US$317.55m), in addition to a huge investment fund with investments of over EGP 10 billion (US$635.09m). The project will be built on an area of ​​9,761 square meters, and it consists of 191 hotel units, indicating that the implementation of the project will start early…

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