Work has started on a construction project in Cairo, concrete plant hire experts have been informed.
Mena Holding (MH) has commenced development of the Al-Ayyat scheme, located in the south-west of the city.
The Kuwait News Agency reports that the land in question is owned by the Egyptian-Kuwaiti Company for Development and Investment, in which MH has a stake.
The country's government is said to be in talks with the group in order to speed up the provision of utilities and resources for the project.
According to the publication: "The company has paid the value of the contract and got all licences and documents proving its acquisition of the land in line with the Presidential Decree No 14 for 2004 on treating Arab investors on equal footing with their Egyptian peers."
Cairo's Orascom Construction, meanwhile, announced its financial results this week, stating a ten per cent growth in net income for the first quarter of 2010.
Suggesting that the area holds ideal opportunities for the building market, its figures also showed a 19.1 per cent rise in consolidated income.
Posted by Andrew Miles
Mena Holding (MH) has commenced development of the Al-Ayyat scheme, located in the south-west of the city.
The Kuwait News Agency reports that the land in question is owned by the Egyptian-Kuwaiti Company for Development and Investment, in which MH has a stake.
The country's government is said to be in talks with the group in order to speed up the provision of utilities and resources for the project.
According to the publication: "The company has paid the value of the contract and got all licences and documents proving its acquisition of the land in line with the Presidential Decree No 14 for 2004 on treating Arab investors on equal footing with their Egyptian peers."
Cairo's Orascom Construction, meanwhile, announced its financial results this week, stating a ten per cent growth in net income for the first quarter of 2010.
Suggesting that the area holds ideal opportunities for the building market, its figures also showed a 19.1 per cent rise in consolidated income.
Posted by Andrew Miles