Egyptian, Emirati companies seal $500 million real estate deal

Egypt's Safwat Kaliouby Group (SKG) and Emirati KSH Investment Company have inked a significant deal worth 24 billion Egyptian pounds ($500 million) for a major real estate project along the Nile in Cairo, according to the Egyptian state news agency MENA. The project will feature three residential and commercial towers as well as a five-star hotel, all located on a 20,000-square-meter (215,278-square-foot) site overlooking Warraq Island, situated north of downtown Cairo.