MBG plans to direct EGP 500m investments in the Pukka project in the New Administrative Capital, according to Mahmoud Al Adl, chairperson of MBG. The project is self-financed by the shareholders, who are investors, and also the project sales. Implementation of this great volume of real estate projects may adversely affect the operations of the real estate market. Therefore, the real estate market depends on improving the general economic situation in the country, and improving the customers’ financial ability. It is not a competition with real estate developers who implement units for the same residential segment in the same areas, because Egypt is a large market and can accommodate all real estate projects produced by all companies.

Source: Daily News Egypt November 28, 2018 09:45 UTC