Egypt signs MOUs with developers for $12.7 bln in projects-minister

By Ehab Farouk SHARM EL-SHEIKH, Egypt (Reuters) - Egypt has signed preliminary deals with four Arab real estate developers for four projects worth a total of $12.7 billion, the country's housing minister said on the sidelines of an economic summit on Sunday. The Arab world's most populous country faces a persistent housing shortage, with population growth outstripping new construction of affordable housing units. Moustafa Madbouly said that the housing ministry had signed MOUs with Egypt's Mount