Real estate in Egypt - File photo
CAIRO – 13 June 2017: The General Assembly of El Nasr for Fertilizers and Chemical Industries approved Monday to expand company activity to real estate investment.
El Nasr firm said in a statement to the Egyptian Exchange that it is approved to build, participate in establishing, rent real estate units, in coordination with mortgage finance companies.
The move comes after Minister of Public Business Sector Ashraf el-Sharkawy recently visited the company’s factory and ordered to utilize unused banks.
Egypt plans to establish LE 12 billion ($662 million) fertilizers complex in Ain Sokhna, and it is scheduled to encompass nine factories.
A maritime pier will be built adjacent to the complex to export fertilizer products through Ain Sokhna Port.
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