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Egypt and Libya plan $100 mln real estate venture

Posted on 25 August 2010

From Reuters: Egypt and Libya will establish a joint company worth $100 million to oversee the construction of al-Fatih city, a real estate development on the outskirts of Cairo, al-Ahram newspaper reported on Tuesday.

Libya will provide 75 percent of the capital, and Egypt the balance, for the 5,600 acre project, the paper quoted Cabinet Spokesman Magdy Rady as saying. It provided no further details…………………………………….Full Article: Source

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