Cairo – Mubasher: Delta for Construction and Rebuilding on Sunday signed an EGP 641 million joint loan agreement with Banque Misr and the Arab African International Bank (AAIB).

Delta for Construction and Rebuilding is a subsidiary of Egyptian Centers for Real Estate Development, and Egyptian Centers for Real Estate Development is a unit of Saudi-Arabia based Fawaz Abdulaziz Al Hokair Company.

Delta for Construction and Rebuilding will allocate the loan to finance a part of the investment cost to implement and develop a commercial mall in Tanta, which is expected to be the largest mall in Gharbia governorate.

The commercial mall in Tanta will be inaugurated in 2019, covering an area of 135,000 square metres.

The Saudi firm’s subsidiary aims to establish three international commercial buildings in Egypt during the next five years, developing urban cities, and investing EGP 15 billion in Egypt.

Egypt aims to attract foreign investments between $13 billion and $15 billion during the coming fiscal year, while aiming about $10 billion by the end of the current FY.