Arabtec Holding
ARTC
-3.29%
0.53
-0.02
ARTC
Arabtec UAE announced founding its subsidiary in Egypt and which is expected to develop the one-million residential-units project next week. The project is done in cooperation with the Egyptian Armed Forces.
The Company told CNBC Arabia that it is considering establishing the company in foreign currency to avoid incurring losses from the currency exchange rate. The Commercial International Bank (CIB) will carry out the arrangement of the local funds.
The Company told CNBC Arabia that it is considering establishing the company in foreign currency to avoid incurring losses from the currency exchange rate. The Commercial International Bank (CIB) will carry out the arrangement of the local funds.
Source:
Mubasher