Prominent Egyptian property developer the Arab Contractors Company plans to open two branches in Iraq–in Baghdad and Erbil–after a four-year absence from the war-torn country due to unstable security conditions.
Arab Contractors President Ibrahim Mehleb announced the decision to restart the company's Iraq operations at a meeting with Egyptian Minister of Housing Ahmed al-Maghraby and the latter's Iraqi counterpart, Byan Ismail.
“Over the last four years, a good part of the contracting business in Iraq went to European and Asian companies,” Mehleb said. “But we're getting ready to start competing with them.”
At the meeting, al-Maghraby briefed Ismail on Egypt's experience in urban development, especially the National Housing Project launched as part of President Hosni Mubarak’s electoral program.
Ismail requested construction of a similar housing project in Iraq, promising to provide Egyptian contractors with all necessary financial and logistical support.
Translated from the Arabic Edition.
