Ahmad 
The Egyptian Safwat Al-Qalioubi Group signed an agreement worth $500 million with the Emirati company KSH to implement a huge real estate development project on the Nile River in Cairo.
The agreement includes the construction of three residential and commercial towers and a five-star hotel in an area overlooking Warraq Island, north of the center of the capital, on an area of 20,000 square meters.
The UAE is considered one of the main Gulf countries that has large investments in Egypt, and as part of these investments, the ADQ Holding Company signed a historic deal worth $35 billion last February to develop the Ras El Hikma area on the northern coast of Egypt, in addition to projects Other.
These investments contributed to alleviating the severe shortage of foreign exchange that the Egyptian economy is suffering from, which caused a significant decline in the value of the Egyptian currency and high inflation rates.
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