Egyptian Billionaire Interested In Investing In PM’s Ambitious ‘Naya Pakistan Housing Scheme’

The $2 billion Eighteen project launched in 2017 will be ready by year 2021. (Photo illustration by Eighteen)

After Russia offers $2 billion investment in Pakistan’s water and electricity projects, Naguib Sawiris, Egyptian billionaire is also interested in expanding his business operations in Pakistan. He wants to invest in Prime Minister Imran Khan’s Naya Pakistan Housing Scheme, as Arab News reports.

Sawiris is already building a multi-billion dollar housing project in the federal capital and now wants to help PM Khan with his ambitious scheme for the poor.

The information was revealed to The Arab News by Tarek Hamdy. Tarek is CEO Elite States – a joint venture by Sawiris’ Ora Developers and Saif Holding.

“Naguib Sawiris has expressed his will to invest in 100,000 units of affordable housing to help Prime Minister (Imran Khan) in his vision toward Pakistan” – Hamdy said. 

Also See: Russia offers to invest $2 billion in Pakistan’s energy projects

“This scheme is very ambitious yet very promising for the people of Pakistan. I think all the developers should help in this scheme. You cannot solely rely on the government to build five million houses” – Hamdy said.

But he said such massive scale project will take more than five years or maybe a decade to complete. He said that it needs to be in phases or steps.

“I think the plan is right, but it has to be in stages, has to be in steps. It could be achievable obviously it is not the project (to be achieved) in one or two years… may take a few good years, maybe a couple of decades to be achieved” – Hamdy said.

Via: Arab News

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