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Egypt’s housing minister said on Thursday that talks with Dubai-listed Arabtec are continuing and that he hopes to reach a final deal on a plan to build one million homes before a March 13-15 investment conference in Sharm el-Sheikh.
Speaking to reporters on Thursday, Mustafa Madbouly said Egypt’s rights have to be preserved in any deal.
A source familiar with the matter told Reuters this week that Arabtec’s chairman would meet officials of Egypt’s housing ministry to renegotiate terms of the $40 billion plan.
Source: Reuters
