World Bulletin/News Desk
Egypt's army chief Abdel-Fattah al-Sisi on Sunday launched a new project for the construction of one million housing units for young Egyptians with limited resources.
The project will be implemented by Arabtec, a leading construction company in the United Arab Emirates, in cooperation with the Egyptian army, army spokesman Ahmed Ali wrote in a statement on his Facebook page.
Al-Sisi met Sunday with the Emirati company chairman Hasan Abdullah Samaik who briefed the army chief about preparations for the project, including proposed designs and location.
Ali said the project is part of a bigger campaign which aims to solve housing problems for Egyptians within the limited-income bracket.
Meanwhile, a major UAE company has decided to inject 16.5 billion Egyptian pounds ($2.8 billion) of investments in Egypt, said Minister of Industry and Foreign Trade Mounir Fakhri Abdel-Nour.
He said Al-Futtaim Group will invest the money in the construction of five shopping malls in different parts of Egypt.
Last Mod: 10 Mart 2014, 11:18