Egypt’s Emaar Misr for Development has signed a deal with Saudi and Emirati companies to build a sprawling tourism development on the Egyptian Red Sea coast in a project that could spur investments worth 900 billion Egyptian pounds ($18.58 billion).
What happened: The deal was unveiled Sunday at the Egyptian cabinet, in a ceremony attended by Prime Minister Mustafa Madbouly and other senior ministers, Egyptian outlets reported.
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News Source: www.al-monitor.com
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