Egypt’s Lozan Urban Development Group, the mother company which embraces several Egyptian and Emirati companies, has launched a new entity in an Egyptian-Saudi partnership under the name of “Methaq Development” to develop several distinctive urban projects in Egypt during the coming period with investments of up to EGP 5bn. Abdullah Al-Amoudi, Regional President of Methaq Development, expressed his happiness at his presence in his second homeland Egypt, and his new partnership with the Lozan Development Group, stressing that as Saudi businessmen they are happy to be present as investors in the land of Mahrousa, especially since Egypt is one of the most important countries that have strong economic relations with the Kingdom of Saudi Arabia. The company’s strategy is also based on identifying problems and developing solutions to them before planning any project, and this is the secret behind achieving this success, as we also rely on providing a real estate product that keeps pace with the new transformation and urban renaissance supported by the Egyptian state under the directives of President El-Sisi. “Egyptian real estate market is one of the important and vital sectors in the Egyptian economy and therefore the group aims to attract more foreign investments, especially Arab and African ones, by working on the export of Egyptian real estate abroad, after studying the opening of external headquarters of the group in both Saudi Arabia and the UAE in the coming period. Besides, working to encourage and attract more foreign investments in line with the vision of the state in achieving a strong and sustainable economy.” Mahmoud Zayed, Head of Marketing Sector of Lozan Group said.

Source: Daily News Egypt November 25, 2022 00:57 UTC