‘Egypt receives 35 billion dollar investment from UAE’

The United Arab Emirates (UAE) has announced a significant investment of 35 billion dollars in Egypt, marking the largest direct investment agreement in the country’s history. The official agency of Egypt, MENA, reported this groundbreaking investment, which was made possible through the signing of the agreement with the participation of Egyptian Prime Minister Mustafa Medbuli, Property Minister Asim al-Jazzar, and UAE Investment Minister Muhammad Hassan Al-Suwaydi.

The investment project will focus on the development of tourism, real estate, and urbanization in the Ras el-Hikmeh region. The project will be divided into two parts, with investments of 15 billion and 20 billion dollars respectively. It is anticipated that the Egyptian government will receive 35 percent of the revenue generated from this ambitious project.

This significant investment not only underscores the strong economic ties between the UAE and Egypt but also highlights the potential for growth and development in the region. The collaboration between the two countries is set to pave the way for enhanced economic opportunities and prosperity for both nations.