World Courant
Saudi Arabia FAS Investments and Actual Property Improvementa subsidiary of Saudi Arabia’s Fawaz Al Hokair Group, goals to pump new investments value $1.5 billion into Egypt by 2024.
Asharq Enterprise reported that the corporate’s CEO Turki al-Hokair mentioned on Sunday that the brand new investments will concentrate on Egypt’s power, actual property and infrastructure sectors.
Talking on the sidelines of a press convention on the Egyptian Ministry of Commerce and Trade, Hokair mentioned that FAS’s present investments in Egypt quantity to 5 billion {dollars}.
In response to the newest information from the Egyptian Ministry of Planning and Financial Improvement, Saudi investments in Egypt quantity to $32 billion.
Chairman of the Saudi-Egyptian Enterprise Council Bandar al-Ameri indicated on Sunday that the amount of Saudi personal sector funding in Egypt amounted to $35 billion.
Saudi Arabia has deposits within the Central Financial institution of Egypt In response to CBE’s newest report on the exterior scenario of the Egyptian financial system, there’s a worth of $10.3 billion, of which $5 billion are short-term deposits, and $5.3 billion are medium- and long-term deposits.
FAS Actual Property from Saudi Arabia will make investments $1.5 billion in Egypt in 2024
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