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Tuesday, 29 August 2017

Saudi Prince Khaled Bin Alwaleed wants to invest in Egypt

INVESTMENT WATCH- Yet another Saudi wants to invest in Egypt. Saudi Prince Khaled Bin Alwaleed Bin Talal Al Saud expressed interest in investing in new projects in Sharm El Sheikh — partnering with companies to expand current projects, or helping financially struggling companies, according to an Investment Ministry statement. Al Saud told Investment Minister Sahar Nasr that it was improvements in Egypt’s investment climate was what drew him to expand in the country in a meeting in Cairo yesterday. Al Saud’s offer is the latest in a series on investment announcements by Saudi investors, including interest from Alwaleed bin Talal in a USD 800 mn project with Talaat Moustafa Group, Al Hokair Group planning to invest EGP 3 bn in Damietta Furniture City, and plans by Abdulrahman Sharbatly and Fahd El Shobokshy to jointly invest USD 2.15 bn.

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