Al-Ahly Bank and Egypt have signed joint cooperation protocols with the Egyptian Ministry of Defense, with the aim of exploiting a series of land owned jointly by Banque Misr and the National Bank of Egypt, in addition to those owned by Banque Misr and its subsidiaries, all in Alexandria, which are part of the development project of the Axis Mahmoudia reconstruction axis.
According to a statement today, Thursday, that is in line with the indications of the state e in coordination with the Central Bank of Egypt.
These protocols aim at the development of the real estate assets owned by the two banks, with the need to work to invest these assets in optimally and overcome all the obstacles and challenges facing the development of these assets, in in line with the state’s approach to advancing social and economic development, attracting new investments and offering more job opportunities. studio, respectively, some protocols to obtain an optimal use of the remaining land owned by the two banks.
According to the statement, this stems from the national banks’ belief in their fundamental role in contributing to the achievement of the strategic objectives of the state and its institutions. in relation to the achievement of the social and economic development of the Egyptian citizen.
It is worth noting that some of these lands will be used in housing projects for low-income people.
Banque Misr and its subsidiaries contributed approximately 30 acres of property land to the Bashayer El Khair project for low-income housing, based on the bank’s belief in the need for concerted efforts to help create a better life for the Egyptian citizen. providing adequate housing for people with the aim of alleviating the burdens of the most deserving segments of society and improving their standard of living, as part of supporting the state’s plans to achieve global development.
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