BEIRUT: Lebanon s largest construction firm, Solidere, will take part in a $4 billion project in Egypt to develop two areas outside Cairo, the company said in a statement released Monday.
Solidere, which is known for rebuilding Beirut s downtown that was destroyed during the 1975-90 civil, will partner with Egypt s Sodic in developing a project in Sheik Zayed city on the highway liking the capital Cairo with the Mediterranean city of Alexandria and another in Katamiya on the road between Cairo and the city of Suez to the east.
The statement said the project in Sheik Zayed City will be called West Town and will cost $2.4 billion while the other will be called East Town and will cost $1.6 billion.
The statement said the projects will include residential buildings, offices, shopping malls, amusement centers and public gardens. It did not give the size of the areas that the projects will cover.
In addition to rebuilding Beirut s downtown, Solidere, the largest Lebanese company in market capitalization, recently started expanding its work outside Lebanon. It has recently partnered with the government of the emirate of Ajman in the United Arab Emirates to build the Al-Zuwar residential and business complex. – AP
