Egypt’s Misr Real Estate Development, owned by Misr Insurance Holding, says it has received technical and financial offers from 6 consulting offices to execute the design of a residential flagship in new administrative capital.
The project is with investments of 2.2 billion Egyptian pounds ($125.2 million), sources with knowledge told Amwal Al Ghad on Sunday, adding that it will be established on a space of 50 faddans.
The six consulting offices include four Egyptian offices; MEDAD Consult Engineering, El Afifi Expertise House for Engineering Consultant, Construction Development Center (CDC), MEDAD Consult Engineering, and Engineering Consultants Group (ECG) as well as one Saudi Arabian architectural and engineering consultancy practice office Omrania, the source referred.
Located some 40km (24.8 miles) east of Cairo, the under-construction new capital city is part of the government’s plan to expand urban areas to deal with the country’s rapid population growth and improve the nation’s infrastructure.
The city will be a 270-square-mile hub with 21 residential districts to accommodate five million people.
It will feature 1,250 mosques and churches, a 5,000-seat conference centre, nearly 2,000 schools and colleges, over 600 medical facilities and a park that is projected to be the world’s largest.