Lozan Urban Development Group launches Methaq Development with investments exceeding $264mln

Lozan Urban Development Group launches Methaq Development with investments exceeding $264mln

Egypt’s Lozan Urban Development Group, the mother company which embraces several Egyptian and Emirati companies, has launched a new entity in an Egyptian-Saudi partnership under the name of “Methaq Development” to develop several distinctive urban projects in Egypt during the coming period with investments of up to EGP 5bn.

Abdullah Al-Amoudi, Regional President of Methaq Development, expressed his happiness at his presence in his second homeland Egypt, and his new partnership with the Lozan Development Group, stressing that as Saudi businessmen they are happy to be present as investors in the land of Mahrousa, especially since Egypt is one of the most important countries that have strong economic relations with the Kingdom of Saudi Arabia.

Al-Amoudi, Regional President of Methaq Development added, “ This new partnership aims to expand the Group’s investments in Egypt in light of the great urban development witnessed by Egypt in all fields under the leadership of President Abdel Fattah El-Sisi, which paves the way for more investment opportunities and increases the opportunities of the Egyptian-Saudi partnership, especially in mega projects such as the New Administrative Capital, and smart cities that are being implemented in various parts of Egypt, supported by the great development in infrastructure, which has