Saudi Arabia And Egypt Agree To A $10 Billion Deal To Build A New Mega-City

[Pavel + 384]

New investment and big political implications. Saudi Arabia and Egypt have agreed to create a $10 billion joint fund to develop a mega-city in Egypt's southern Sinai Peninsula. Both countries committing more than 386 square miles of land to the new project. Saudi Arabia and Egypt, respectively the richest and most populous Arab states, have strengthened their strategic ties since Sisi came to power in 2013. 

[Petar + 76]

It looks like a pact of the 2 powerful leaders: one of the richest, the other the most powerful in M. East. 

[franco + 96]

This is huge given the region’s political climate.

[Pavel + 384]

This is not just strong political message. It's a some positive news for an area in desperate need of economic growth.