Back to the complete issue
Wednesday, 12 July 2017

CFLD to invest USD 4 bn over the next four years

INVESTMENT WATCH – China Fortune Land Development Company (CFLD) is at it again and looking to invest USD 4 bn in developments in the New Administrative Capital over the next five years, according to an Ittihadiya statement picked up by Al Borsa. This latest wave of mega investments from CFLD will be geared towards developing industrial parks in the new capital, a specialty for the company.

So what exactly is going on with CFLD’s investments? The offer, which was discussed at a meeting between the ministers of investment and housing with President Abdel Fattah El Sisi on Tuesday, will supposedly bring CFLD’s investments in the new capital to USD 13.5 bn over the next ten years. This would essentially mean that the company may have lowered its projected 10-year investment from USD 20 bn, as we have heard numerous times since the first pledge was announced last year. We’ve heard, as recently as last May, that the company was still looking to invest the USD 20 bn — geared towards developing 14,000 feddans in phase 1 of the new capital — and that it would sign a contract soon.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594). Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2016 Enterprise Ventures LLC.