According to Al-Qabas newspaper, Mr. Ayad Al-Sameet, Branch Manager of the Kuwait Real Estate Investment Consortium (KREIC) in Egypt, said that KREIC has recently finished the construction of the two biggest towers in Al-Zamalek district of Cairo.
KREIC's project in Al-Zamalek includes two 7-storey adjacent residential towers (A and B). The manager refused to reveal this project's cost. Yet, he estimated KREIC's investments in Egypt at $300 million out of $1 billion investments in the Arab World.
He added that the Kuwaiti group had sold 750 apartments by EP 140 million in three different projects in Egypt. The Kuwait Real Estate Investment Consortium (KREIC) incorporated in Kuwait on October 26th, 1975.
KREIC is considered as one of the foremost companies in the State of Kuwait due to its effective implementing to its work strategies, its achievements and the obvious growing of its funds as a result of its worldwide located investments. KREIC's core interest is developing and supporting real estate and tourist projects as well as contributing to various development, industrial and financial companies. It also has projects in many of the Arab and some foreign countries. KREIC administers construction projects and makes the follow-ups for other's real estates as well as handling its local realties.
