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Monday, 6 June 2016

EGP 200 mn capital real estate developer established

A real estate development company by the name of “Upscale Misr” is launching with capital of EGP 200 mn, CEO Mohamed Khairy told Al Mal on Thursday. The company is seeking investment funds and international institutions, he added, saying Upscale Misr is planning an EGP 4 bn university city in Borg Al Arab over an area of 150 feddans that will include all educational and housing facilities. Upscale Misr claims to have contracted engineering and project management consultancy firm Atkins as well real estate consultancy JLL for the project, said Khairy.

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