AEEE Capital to construct 500-acre project in Cairo
AEEE Capital Holding & Advisory Group Inc (AEEE) 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. Part of the upcoming improvements include a state-of-the-art call center, residential town homes, luxury villas, mid-rise apartments, and studios.
Such projects ensure that the boom in the local real estate cycle continue 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 successfully tackling inflation, AEEE’s phase II projects expect to generate more than 275,000 jobs in the construction industry over the next six years.