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Damac to invest $5.4bn in Egypt

  • Egypt: Wednesday, December 12 - 2007 at 09:10

Damac Properties, the largest privately owned real-estate developer in the Middle East, plans to invest 30 billion Egyptian pounds ($5.4bn) in a project in New Cairo, a suburb of Egypt's capital, reported Gulf News. As part of the first phase of the project, Damac plans to build a compound of villas called Hyde Park which will cover over 4.7 million square metres and comprise more than 3,000 detached and attached villas.

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Jeff FlorianJeff Florian, Senior Reporter
Wednesday, December 12 - 2007 at 09:10 UAE local time (GMT+4)

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