Abraj Misr targets reaching EGP 1.6bn in sales for its two main projects, compared to EGP 560m last year. Daily News Egypt met with Abraj Misr CEO Ali Rabei to talk about the company’s strategy in managing and developing The Gate project. The investment cost of hotel apartments that will be built by Marriott International is EGP 620m. The full delivery of the second phase of The Gate project is expected to take place in 2021. We target increasing the capital of MERED under the Abraj Misr umbrella to EGP 300m within the next three months.

Source: Daily News Egypt October 24, 2016 06:00 UTC