Senior Kuwaiti businessmen and investors announced for pumping billions of dollars of new investment in Egypt by the coming period.
This came during Ibrahim Mahlab’s visit to Kuwait, investors expressed continued all avenues of support and assistance provided by Kuwait to Egypt, and stressed their direction to increase their investments in Egypt during the coming period, especially with the approach of the economic conference in Sharm El Sheikh.
M.H. Alshaya Company, a retail franchise company working in part of the Alshaya group of companies established in Kuwait announced for its willingness to invest in Egypt within the next period by injecting US$3 billion over 4 years, Mr. Mohammed Alshaya an Executive Chairman of Kuwait-based M.H. Alshaya Co said during his meeting with Mahlab in Kuwait he intends to build massive commercial complex on an area of 120 feddan, on the same compound, which is owned by Kuwait model.
Mahlab welcomed the implementation of initiative, noting that the contract will sign before the economic reform conference , Egyptian Housing Minister reviewed some of investment opportunities in the new cities.
