[Egypt] AEEE Capital Holding signs $650 million deal for construction of a 500-acre development
AEEE Capital Holding & Advisory Group Inc (AEEE) has signed a $650 million deal to complete development and construction management of a 500-acre Phase II sector of the New Capital East of Cairo in Egypt.
Part of the upcoming improvements include a state-of-the-art call center, residential town homes, luxury villas, mid-rise apartments, and studios.
For AEEE's CEO MJ Said, this is a home coming and sees the boom in the local Real Estate Cycle continuing for at least another decade. Easier access to financing, significantly lower interest rates and high demand for a more suburban lifestyle have all contributed to this boom.
With the Egyptian Government not only successfully tackling inflation, AEEE's phase ii projects expect to generate more than 275,000 jobs in the construction industry over the next 6 years.