By: Abdallah Bedeir

Cairo – Mubasher: Egypt’s housing ministry will launch residential units suitable for different segments in New Alamein City and New Mansoura within two months, housing minister assistant for national projects Khaled Abbas said on Thursday.

Almost 12 storeys were built in the buildings in New Alamein, Abbas added on the sidelines of the International Property Show (IPS) held in Cairo, noting that these buildings are set to reach 20 storeys by next summer.

A recreational area is also being built over an area reaching up to 40,000 metres, the top official revealed, noting that completion was slated for the summer.

During the four-day event, the minister's assistant for national projects signed an agreement with MIPIM director for the Middle East Arnaud Bouzinac, under which Egypt will participate for the first time in the MIPIM exhibition to be held next March in Cannes, France.

MIPIM is one of the world’s largest real estate exhibitions that embraces over 5,000 investors from more than 50 countries across the world and showcases over 1,000 projects.

Translated by: Mai Ezz El-Din