Four agreements have been signed between four Egyptian real estate developers and the Saudi Housing Ministry, with the purpose of developing real estate units catering for the middle-income bracket in Saudi Arabia. The four real estate developers are: Talaat Moustafa Group (TMG), Sabbour, Misr Italia, and Orbit Alliance for Real Estate Investment. The Saudi counterparty would provide land, while the companies would be responsible for the construction and for selling the units. The agreements come as part of the 21 agreements signed between the two counties during the Saudi King’s visit to Egypt. Saudi Arabia is set to sign similar agreements with other real estate developers from other countries to address the housing shortage issue. (Al Borsa)