Egyptian developers suspend Saudi project amid tensions

Cairo

THREE Egyptian real estate executives said on Thursday that their companies have suspended housing deals with the Saudi Arabian government amid political tensions between the two countries.

A Saudi housing ministry official denied that any project had been suspended.

Four Egyptian real estate companies had signed memorandums of understanding with the Saudi Housing Ministry during King Salman's April visit to Cairo last year.

Since then, political differences have emerged as the two Arab powers diverged on the conflict in Syria, and an Egyptian court blocked the transfer of two Red Sea islands …