Fawaz Alhokair’s Egypt-based subsidiary, Marakez for Real Estate Investment Co., has signed EGP 70 million (SAR 14.9 mln) contract to build the first phase of Aeon Compound in Egypt.

 

The first phase comprises six buildings, and construction works will be completed in 12 months, the company said in a statement.

 

The project will be the first residential development by the company in Egypt. Financial impact was not disclosed.

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