Global Arab Network | Egypt: Kuwait invests $ 10 billion in real estate sector

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Egypt: Kuwait invests $ 10 billion in real estate sector

- Gamal Ragay

Monday, 06 September 2010 23:22

Kuwait has investments in the real-estate sector in Egypt valuing at $ 10 billion, according to a report has released.

Ali Al-Sherbani, the Board Chairman of the Egyptian "Tabark Holding," said in the report released by the company's branch in Kuwait that the Gulf investments, namely the Kuwaiti enterprises, would grow further in the Egyptian market as a result of tremendous opportunities offered by the Egyptian real-estate firms.

The Egyptian companies have been offering various incentives namely competitive prices , facilities and prospected earnings. Earlier today an Egyptian diplomat said Monday that volume of Kuwaiti exports to Egypt reached USD 46.2 million a year; USD 38.7 million of which are from oil derivatives .

Trade volume between Kuwait and Egypt is at an annual increase of 15.9 %, going up from USD 247.1 million in 2007 to USD 286.5 million in 2008, head of the commercial representation office at the Egyptian embassy in Kuwait Minister Plenipotentiary Abdulwahab Abdulalim said.

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