Egypt: Real estate firm to develop $394m project

The project will be located in front of the New Administrative Capital and will be built over three phases

A general representation of housing projects in New Cairo.
A general representation of housing projects in New Cairo.

Egypt-based real estate firm, El Alameya for Development & Real Estate Investment, is set to develop a residential project on the Egypt-Suez road in New Cairo.

The project will have total investments worth $394m (EGP3.5bn), according to the company's chairman Karam Hamouda.

The development will be located in front of the New Administrative Capital and will be built over three phases, on 300 feddans of land.

The project will include residential building with varying sized apartments, villas, and a sports club.

Dubbed as "Compound Alalmeya", the project is scheduled to be completed by year 2020, Hamouda told local news agencies.

Half of the project's financing will be provided through a bank and the remaining half will be self-financed, Hamouda added.

Most popular

Awards

CW Oman Awards 2020: Meet the winners
A round of the thirteen winning names at the Construction Week Oman Awards 2020 that

Conferences

Leaders UAE 2020: Building a sustainable, 'resilient' infra
AESG’s Phillipa Grant, Burohappold’s Farah Naz, and Samana's Imran Farooq on a sustainable built environment
CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this

Latest Issue

Construction Week - Issue 767
Sep 01, 2020